Lennar (NYSE:LEN)‘s stock had its “buy” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They currently have a $78.00 target price on the construction company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 14.27% from the stock’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, September 15th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar in a research report on Monday, September 25th. UBS Group began coverage on Lennar in a research report on Wednesday, October 25th. They set a “buy” rating on the stock. BTIG Research upped their target price on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Bank of America upped their target price on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $60.67.
Lennar (NYSE LEN) opened at $68.26 on Thursday. The company has a market capitalization of $15,870.00, a P/E ratio of 19.67, a P/E/G ratio of 1.35 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. Lennar has a 52-week low of $43.27 and a 52-week high of $68.51.
In related news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares in the company, valued at $6,337,980. The disclosure for this sale can be found here. Corporate insiders own 12.18% of the company’s stock.
Several hedge funds have recently bought and sold shares of LEN. D.A. Davidson & CO. raised its position in shares of Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after acquiring an additional 155 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Lennar by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC raised its position in shares of Lennar by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares in the last quarter. Chartist Inc. CA acquired a new stake in shares of Lennar during the 2nd quarter valued at approximately $200,000. Finally, Fiera Capital Corp bought a new position in Lennar during the 2nd quarter worth $224,000. 81.25% of the stock is currently owned by institutional investors and hedge funds.
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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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