Investors Buy Shares of Lennar (LEN) on Weakness

Investors bought shares of Lennar Co. (NYSE:LEN) on weakness during trading hours on Thursday. $96.64 million flowed into the stock on the tick-up and $36.16 million flowed out of the stock on the tick-down, for a money net flow of $60.48 million into the stock. Of all companies tracked, Lennar had the 14th highest net in-flow for the day. Lennar traded down ($1.07) for the day and closed at $41.90

Several brokerages have recently weighed in on LEN. Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays set a $63.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Friday, September 14th. Mizuho set a $65.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Wedbush reissued a “neutral” rating on shares of Lennar in a research report on Monday, October 1st. Finally, ValuEngine lowered shares of Lennar from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.38.

The stock has a market capitalization of $14.19 billion, a P/E ratio of 11.00, a PEG ratio of 0.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The business had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same period last year, the firm earned $1.06 earnings per share. Lennar’s revenue for the quarter was up 73.9% compared to the same quarter last year. Equities analysts predict that Lennar Co. will post 4.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, October 18th. Lennar’s dividend payout ratio is 4.20%.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $46.98, for a total transaction of $939,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Lennar by 475.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after buying an additional 2,470 shares in the last quarter. Ayalon Holdings Ltd. acquired a new stake in Lennar during the second quarter worth about $158,000. Usca Ria LLC acquired a new stake in Lennar during the second quarter worth about $203,000. Levin Capital Strategies L.P. acquired a new stake in Lennar during the second quarter worth about $210,000. Finally, Dupont Capital Management Corp grew its stake in Lennar by 46.5% during the second quarter. Dupont Capital Management Corp now owns 4,089 shares of the construction company’s stock worth $215,000 after buying an additional 1,298 shares in the last quarter. 85.12% of the stock is currently owned by institutional investors and hedge funds.

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About Lennar (NYSE:LEN)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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