Lennar Corporation (LEN) Receives Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Lennar Corporation (NYSE:LEN) in a report issued on Tuesday, StockTargetPrices.com reports.

A number of other equities analysts have also weighed in on LEN. BidaskClub lowered shares of Lennar Corporation from a buy rating to a hold rating in a research report on Tuesday, June 20th. Royal Bank of Canada upped their price target on shares of Lennar Corporation from $60.00 to $61.00 and gave the stock an outperform rating in a research report on Wednesday, June 21st. Bank of America Corporation reiterated a buy rating and issued a $63.00 price target (up from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Zacks Investment Research lowered shares of Lennar Corporation from a buy rating to a hold rating in a research report on Friday, June 23rd. Finally, MKM Partners reiterated a neutral rating and issued a $58.00 price target (up from $55.00) on shares of Lennar Corporation in a research report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $55.59.

Shares of Lennar Corporation (LEN) opened at 53.48 on Tuesday. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $55.75. The company’s 50 day moving average is $52.18 and its 200-day moving average is $49.02. The stock has a market capitalization of $12.54 billion, a PE ratio of 15.63 and a beta of 1.26.

Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. On average, equities analysts predict that Lennar Corporation will post $3.82 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Thursday, July 13th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Tuesday, July 11th. Lennar Corporation’s payout ratio is 4.68%.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.18% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock worth $107,222,000 after buying an additional 1,760,608 shares during the last quarter. Capital Growth Management LP increased its stake in Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock worth $109,035,000 after buying an additional 760,000 shares during the last quarter. Oakmont Corp increased its stake in Lennar Corporation by 1,293.5% in the first quarter. Oakmont Corp now owns 790,830 shares of the construction company’s stock worth $40,483,000 after buying an additional 734,080 shares during the last quarter. Nomura Holdings Inc. increased its stake in Lennar Corporation by 1,223.5% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company’s stock worth $30,603,000 after buying an additional 552,547 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock worth $149,417,000 after buying an additional 361,684 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors.

About Lennar Corporation

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

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