Lennar’s (LEN) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Lennar (NYSE:LEN) in a research report released on Thursday, Benzinga reports. The firm currently has a $170.00 price target on the construction company’s stock.

LEN has been the subject of a number of other reports. Wedbush reaffirmed an underperform rating and set a $144.00 target price on shares of Lennar in a report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an underperform rating and set a $145.00 target price on shares of Lennar in a report on Thursday. BTIG Research reduced their price objective on shares of Lennar from $177.00 to $175.00 and set a buy rating for the company in a research note on Thursday. Oppenheimer reissued a market perform rating on shares of Lennar in a research note on Friday, March 15th. Finally, UBS Group increased their price objective on shares of Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $166.47.

Lennar Stock Up 1.5 %

Shares of Lennar stock opened at $151.55 on Thursday. The company has a market cap of $42.18 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.56. The company’s 50 day moving average is $156.53 and its 200 day moving average is $155.22. Lennar has a twelve month low of $102.90 and a twelve month high of $172.59. The company has a quick ratio of 1.27, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.32%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Insider Buying and Selling at Lennar

In other news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares in the company, valued at approximately $2,764,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Amy Banse bought 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The disclosure for this sale can be found here. Insiders sold 29,176 shares of company stock worth $4,841,039 over the last 90 days. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC lifted its holdings in Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Lennar during the 3rd quarter valued at about $28,000. J.Safra Asset Management Corp purchased a new position in Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar during the 1st quarter valued at about $32,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Lennar during the 1st quarter valued at about $35,000. Institutional investors own 81.10% 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.