Lennar (NYSE:LEN) Reaches New 12-Month High at $187.60

Lennar Co. (NYSE:LEN)’s stock price reached a new 52-week high on Monday . The company traded as high as $187.60 and last traded at $187.60, with a volume of 5187 shares. The stock had previously closed at $185.91.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LEN shares. Wedbush reissued a “neutral” rating and set a $144.00 target price on shares of Lennar in a research report on Wednesday, September 11th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their target price on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Citigroup restated a “neutral” rating and set a $164.00 price objective (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Lennar presently has a consensus rating of “Hold” and a consensus target price of $172.69.

Lennar Stock Performance

The firm’s fifty day simple moving average is $174.49 and its 200 day simple moving average is $163.43. The company has a market capitalization of $52.01 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last issued its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. On average, research analysts predict that Lennar Co. will post 14.16 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.06%. Lennar’s payout ratio is 13.60%.

Institutional Trading of Lennar

A number of hedge funds have recently added to or reduced their stakes in LEN. Sanctuary Advisors LLC purchased a new stake in shares of Lennar during the 2nd quarter worth about $6,069,000. Clearbridge Investments LLC grew its holdings in Lennar by 21.1% in the second quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock valued at $24,868,000 after purchasing an additional 28,938 shares during the period. Delphi Management Inc. MA raised its stake in shares of Lennar by 3.4% during the 2nd quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock worth $1,608,000 after buying an additional 352 shares during the period. 3Chopt Investment Partners LLC purchased a new position in shares of Lennar during the 2nd quarter valued at approximately $904,000. Finally, Kimelman & Baird LLC acquired a new stake in Lennar in the 2nd quarter valued at $124,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar 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.