Stocks of Lennar Corporation (NYSE:LEN) traded higher last session on Wall Street, up 0.19% to $127.54.
According to the data, Lennar Corporation (NYSE:LEN) has 24 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $161.00 and a low of $111.00, we find $140.50. Given the previous closing price of $127.30, this indicates a potential upside of 10.37 percent. LEN stock price is now 7.33% away from the 50-day moving average and 26.36% away from the 200-day moving average. The market capitalization of the company currently stands at $40.51B.
A total of 8 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $138.10 as their price target over the next twelve months.
With the price target maintained at $150, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Lennar Corporation (NYSE: LEN).
In other news, Banse Amy, Director bought 790 shares of the company’s stock on Jul 21. The stock was bought for $99,872 at an average price of $126.42. Upon completion of the transaction, the Director now directly owns 7,293 shares in the company, valued at $0.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 20, Executive Vice President McCall Jeffrey Joseph sold 10,000 shares of the business’s stock. A total of $1,264,800 was realized by selling the stock at an average price of $126.48. This leaves the insider owning 141,386 shares of the company worth $18.03 million. Insiders disposed of 479,474 shares of company stock worth roughly $61.15 million over the past 1 year. A total of 1.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LEN stock. A new stake in Lennar Corporation shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $74,228,000. CANDLESTICK CAPITAL MANAGEMENT LP invested $54,361,000 in shares of LEN during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Lennar Corporation valued at approximately $42,445,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in LEN for approximately $32,688,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in LEN valued at around $21,197,000 in the second quarter. In total, there are 1,087 active investors with 98.20% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $128.17 for Lennar Corporation (NYSE: LEN). During the past 12 months, Lennar Corporation has had a low of $69.90 and a high of $133.24. According to the stock market information, the enterprise value for the company is $36.96B, which is based on a 8.69 price-to-earnings ratio, a 14.49 price-to-earnings-growth ratio, and a beta of 1.47. The fifty day moving average price for LEN is $119.10 and a two-hundred day moving average price translates $101.17 for the stock.
The latest earnings results from Lennar Corporation (NYSE: LEN) was released for May, 2023. According to the Residential Construction Company, earnings per share came in at $3.01, beating analysts’ expectations of $2.32 by 0.69. This compares to $4.56 EPS in the same period last year. The net profit margin was 12.50% and return on equity was 17.40% for LEN. The company reported revenue of $8.05 billion for the quarter, compared to $8.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.75 percent. For the current quarter, analysts expect LEN to generate $8.45B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/21/2023. Investors who held shares on 07/07/2023 were paid a $0.375 dividend. On an annualized basis, this represents a $1.50 dividend and a 1.18% percent yield. There was an ex-dividend date of 07/06/2023 for this dividend. In terms of dividend payout ratio, LEN is presently at 10.20%.
Lennar Corporation(LEN) Company Profile
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. It also offers residential mortgage financing, title, insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.
