Lennar (NYSE:LEN) Issues Earnings Results

Lennar (NYSE:LEN) posted its quarterly earnings data on Thursday. The construction company reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.39, Briefing.com reports. Lennar had a net margin of 12.66% and a return on equity of 18.27%. The firm had revenue of $8.73 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the prior year, the firm posted $5.18 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year.

Lennar Stock Up 1.5 %

Lennar stock opened at $117.71 on Friday. The stock has a market cap of $33.83 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.53 and a beta of 1.48. The company has a current ratio of 7.09, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $122.59 and its two-hundred day moving average price is $114.25. Lennar has a 52 week low of $69.90 and a 52 week high of $133.24.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.50 annualized dividend and a yield of 1.27%. Lennar’s payout ratio is 10.24%.

Analyst Ratings Changes

LEN has been the topic of a number of research analyst reports. BTIG Research increased their price objective on shares of Lennar from $120.00 to $148.00 in a research note on Friday, June 16th. StockNews.com initiated coverage on shares of Lennar in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays increased their target price on shares of Lennar from $120.00 to $135.00 in a report on Wednesday, May 24th. Citigroup dropped their target price on shares of Lennar from $148.00 to $139.00 and set a “buy” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group increased their target price on shares of Lennar from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and an average price target of $127.56.

Insider Buying and Selling at Lennar

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the transaction, the executive vice president now owns 141,386 shares of the company’s stock, valued at approximately $17,882,501.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the completion of the transaction, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy Banse acquired 859 shares of Lennar stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $117.65 per share, with a total value of $101,061.35. Following the transaction, the director now owns 8,972 shares in the company, valued at approximately $1,055,555.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,634 shares of company stock valued at $321,855. Company insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Lennar

Several large investors have recently made changes to their positions in the business. Coppell Advisory Solutions LLC acquired a new position in shares of Lennar in the second quarter worth about $46,000. Money Concepts Capital Corp boosted its holdings in shares of Lennar by 494.4% in the fourth quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock worth $67,000 after buying an additional 613 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Lennar in the second quarter worth about $107,000. Centaurus Financial Inc. boosted its holdings in shares of Lennar by 10.7% in the second quarter. Centaurus Financial Inc. now owns 1,744 shares of the construction company’s stock worth $219,000 after buying an additional 168 shares during the period. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Lennar in the first quarter worth about $338,000. Institutional investors own 79.87% of the company’s stock.

About Lennar

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.