Oppenheimer Reaffirms Market Perform Rating for Lennar (NYSE:LEN)

Oppenheimer reaffirmed their market perform rating on shares of Lennar (NYSE:LEN) in a research report report published on Friday, Benzinga reports.

Several other equities analysts also recently issued reports on the company. StockNews.com upgraded Lennar from a hold rating to a buy rating in a research report on Friday, December 15th. The Goldman Sachs Group boosted their target price on Lennar from $138.00 to $158.00 and gave the stock a buy rating in a research report on Monday, December 18th. Citigroup boosted their target price on Lennar from $170.00 to $179.00 and gave the stock a buy rating in a research report on Monday. UBS Group boosted their target price on Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research report on Friday. Finally, JMP Securities restated a market outperform rating and set a $170.00 target price on shares of Lennar in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $160.31.

Lennar Price Performance

Shares of LEN traded up $0.04 during mid-day trading on Friday, reaching $156.61. The company had a trading volume of 2,022,702 shares, compared to its average volume of 2,169,050. Lennar has a twelve month low of $100.95 and a twelve month high of $167.49. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.72. The company’s 50-day moving average is $154.23 and its 200-day moving average is $134.81. The company has a market capitalization of $43.98 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.99 and a beta of 1.52.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the prior year, the firm posted $2.12 EPS. Lennar’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Lennar will post 14.36 EPS for the current year.

Lennar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. This is a boost from Lennar’s previous quarterly dividend of $0.38. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, January 23rd. Lennar’s dividend payout ratio is currently 14.02%.

Insider Transactions at Lennar

In related news, VP Mark Sustana sold 37,304 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $146.38, for a total transaction of $5,460,559.52. Following the sale, the vice president now owns 18,694 shares in the company, valued at $2,736,427.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $147.73, for a total transaction of $1,477,300.00. Following the sale, the chief financial officer now owns 260,556 shares in the company, valued at $38,491,937.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark Sustana sold 37,304 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $146.38, for a total value of $5,460,559.52. Following the completion of the sale, the vice president now owns 18,694 shares in the company, valued at approximately $2,736,427.72. The disclosure for this sale can be found here. 9.36% of the stock is owned by insiders.

Institutional Trading of Lennar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin Edwards Inc. raised its stake in Lennar by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock valued at $153,000 after buying an additional 69 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Lennar by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after purchasing an additional 70 shares during the last quarter. Savant Capital LLC grew its position in shares of Lennar by 0.9% in the fourth quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 78 shares during the last quarter. RFG Advisory LLC grew its position in shares of Lennar by 2.1% in the fourth quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after purchasing an additional 79 shares during the last quarter. Finally, FFT Wealth Management LLC grew its position in shares of Lennar by 3.3% in the fourth quarter. FFT Wealth Management LLC now owns 2,646 shares of the construction company’s stock valued at $394,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 79.87% of the company’s stock.

About Lennar

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.