Lennar (NYSE:LEN) Now Covered by Analysts at SunTrust Banks
SunTrust Banks assumed coverage on shares of Lennar (NYSE:LEN) in a research report released on Monday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $47.00 price target on the construction company’s stock.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Lennar from $57.00 to $54.00 and set an overweight rating for the company in a research note on Wednesday, June 26th. ValuEngine lowered Lennar from a hold rating to a sell rating in a report on Tuesday, July 2nd. Wedbush set a $62.00 target price on Lennar and gave the stock a buy rating in a report on Wednesday, June 26th. Zacks Investment Research downgraded Lennar from a hold rating to a sell rating and set a $53.00 price target on the stock. in a research note on Thursday, May 30th. Finally, Raymond James downgraded Lennar from an outperform rating to a market perform rating and set a $55.00 target price on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $56.37.
Shares of LEN traded up $0.78 during mid-day trading on Monday, reaching $50.04. The company had a trading volume of 56,608 shares, compared to its average volume of 3,361,449. Lennar has a twelve month low of $37.29 and a twelve month high of $54.50. The company has a quick ratio of 0.79, a current ratio of 13.93 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $48.08. The stock has a market cap of $15.87 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.10 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, July 10th. Lennar’s dividend payout ratio is currently 2.52%.
In other news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the sale, the president now directly owns 346,946 shares of the company’s stock, valued at approximately $17,014,231.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.43% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Long Pond Capital LP raised its position in Lennar by 21.1% in the 1st quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock worth $114,264,000 after purchasing an additional 405,962 shares during the period. Smead Capital Management Inc. raised its position in Lennar by 0.9% in the 1st quarter. Smead Capital Management Inc. now owns 1,544,021 shares of the construction company’s stock worth $75,796,000 after purchasing an additional 14,140 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Lennar by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,123,228 shares of the construction company’s stock worth $55,139,000 after purchasing an additional 2,904 shares during the period. Swiss National Bank raised its position in Lennar by 2.8% in the 1st quarter. Swiss National Bank now owns 975,388 shares of the construction company’s stock worth $47,882,000 after purchasing an additional 27,000 shares during the period. Finally, Cannell Peter B & Co. Inc. raised its position in Lennar by 19.7% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 949,237 shares of the construction company’s stock worth $46,000,000 after purchasing an additional 156,236 shares during the period. Institutional investors own 85.65% of the company’s stock.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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