Lennar (LEN) Upgraded by Credit Suisse Group to “Outperform”
Credit Suisse Group upgraded shares of Lennar (NYSE:LEN) from a neutral rating to an outperform rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $81.00 price target on the construction company’s stock, up from their previous price target of $67.00.
Other research analysts also recently issued research reports about the stock. UBS Group started coverage on shares of Lennar in a research report on Wednesday, October 25th. They set a buy rating on the stock. BTIG Research boosted their target price on shares of Lennar from $62.00 to $63.00 and gave the company a buy rating in a research report on Wednesday, October 4th. Bank of America boosted their target price on shares of Lennar from $63.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, October 4th. MKM Partners upgraded shares of Lennar from a neutral rating to a buy rating and set a $64.00 target price on the stock in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated a buy rating and set a $64.00 target price on shares of Lennar in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $65.00.
Lennar (NYSE:LEN) traded down $0.80 during trading on Monday, hitting $70.93. 2,769,787 shares of the company were exchanged, compared to its average volume of 4,613,300. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72. Lennar has a 52 week low of $43.46 and a 52 week high of $72.17. The firm has a market cap of $16,680.00, a P/E ratio of 20.44, a PEG ratio of 1.04 and a beta of 1.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, January 25th. This represents a $0.16 annualized dividend and a yield of 0.23%. Lennar’s payout ratio is 4.61%.
In other Lennar news, VP Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 222,396 shares in the company, valued at $15,456,522. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 371,043 shares in the company, valued at approximately $22,262,580. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,000 shares of company stock worth $11,744,050. Corporate insiders own 12.18% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LEN. D.A. Davidson & CO. grew its stake in shares of Lennar by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares in the last quarter. QS Investors LLC grew its stake in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after acquiring an additional 25 shares in the last quarter. Chartist Inc. CA bought a new stake in shares of Lennar in the 2nd quarter worth $200,000. Valeo Financial Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter worth $245,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Lennar in the 3rd quarter worth $250,000. Hedge funds and other institutional investors own 80.85% of the company’s stock.
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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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