Lennar’s (LEN) Overweight Rating Reiterated at JPMorgan Chase & Co.
JPMorgan Chase & Co. reissued their overweight rating on shares of Lennar (NYSE:LEN) in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a $77.00 price target on the construction company’s stock.
Several other equities research analysts also recently commented on LEN. UBS Group initiated coverage on Lennar in a report on Wednesday, October 25th. They issued a buy rating for the company. Mizuho reissued a hold rating and issued a $53.00 price objective on shares of Lennar in a report on Friday, October 27th. JMP Securities raised Lennar from a market perform rating to an outperform rating in a report on Monday, November 6th. Zacks Investment Research downgraded Lennar from a hold rating to a sell rating in a report on Tuesday, December 12th. Finally, Wedbush increased their price objective on Lennar from $54.00 to $60.00 and gave the company a neutral rating in a report on Friday, December 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $67.93.
Shares of Lennar (NYSE:LEN) opened at $59.96 on Tuesday. The company has a market capitalization of $13,860.00, a P/E ratio of 17.90, a PEG ratio of 0.62 and a beta of 1.26. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar has a twelve month low of $45.75 and a twelve month high of $72.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 26th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is presently 4.78%.
In related news, VP Diane J. Bessette sold 10,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $69.50, for a total value of $695,000.00. Following the sale, the vice president now owns 222,396 shares in the company, valued at approximately $15,456,522. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Sustana sold 125,000 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares in the company, valued at approximately $4,570,826. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,000 shares of company stock worth $12,392,050. 12.18% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Carillon Tower Advisers Inc. bought a new position in Lennar during the 4th quarter worth $53,102,000. Westwood Management Corp IL bought a new position in Lennar during the 4th quarter worth $18,238,000. Capital Growth Management LP increased its position in Lennar by 28.2% during the 3rd quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock worth $57,552,000 after buying an additional 240,000 shares during the period. Assenagon Asset Management S.A. bought a new position in Lennar during the 4th quarter worth $13,456,000. Finally, PGGM Investments increased its position in Lennar by 139.8% during the 4th quarter. PGGM Investments now owns 309,200 shares of the construction company’s stock worth $19,554,000 after buying an additional 180,275 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.
Lennar Company Profile
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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