Lennar Corporation (LEN), a leading residential construction company, has recently received attention from multiple analysts. StockNews.com initiated coverage on LEN, giving it a “hold” rating in their research report published on August 17th, 2023. JMP Securities also released a research report, increasing their price target for Lennar shares from $115.00 to $135.00 on June 16th, 2023. Bank of America followed suit by raising their price target from $103.00 to $120.00 in their research report on June 14th, 2023. Evercore ISI contributed to the discussion and increased their price objective for Lennar shares from $161.00 to $164.00 in a research report issued on September 19th, 2023.
Raymond James caused quite the stir when they upgraded their rating on Lennar stock from “market perform” to “outperform” and assigned a price objective of $150.00 per share in a research report published on July 14th, 2023.
Analysts have expressed varying opinions about Lennar’s stock performance, with two analysts issuing a sell rating, six assigning a hold rating, and ten representing a buy rating for the company’s stock as of September 19th, 2023.
Bloomberg.com reports that the average rating given by analysts is currently “Hold,” while the consensus price target stands at $130.94.
In other news related to Lennar Corporation (LEN), there have been notable insider transactions reported recently.
Chief Financial Officer Diane J. Bessette sold 10,790 shares of LEN stock on June 22nd, 2023, with an average selling price of $121.46 per share and a total transaction value of $1,310,553.40. Following this sale, Bessette now owns 270,556 shares of Lennar’s stock, valued at approximately $32,861,731.76. The details of this transaction are available in a filing with the Securities & Exchange Commission (SEC).
Additionally, director Amy Banse acquired 790 shares of Lennar stock on July 21st, 2023. The average purchase price per share was $126.42, resulting in a total transaction value of $99,871.80. Post-acquisition, Banse holds 7,293 shares of the company’s stock, valued at $921,981.06 according to the filing with the SEC.
Moreover, CFO Diane J. Bessette conducted another transaction on June 22nd, 2023 by selling an additional 10,790 shares of LEN stock at an average price of $121.46 per share. The total value from this sale amounted to $1,310,553.40. Following this sale, Bessette now directly owns 270,556 shares of Lennar’s stock valued at approximately $32,861,731.76.
Overall in the last quarter alone, insiders have acquired a total of 2,634 shares of Lennar stock with an estimated worth of $321,855. It is worth noting that insiders currently own approximately 9.53% of the company’s stock.
On September 19th, 2023,Lennar Corporation (LEN) opened at a market price of $117.03 per share.The company has a market capitalization of $33.64 billion and boasts a low price-to-earnings ratio of 8.68.The price-to-earnings growth (PEG) ratio stands at 1.52 and the beta is recorded at 1.48.Comparing moving averages,Lennar has a fifty-day simple moving average price pegged at $122.
Its two-hundred-day simple moving average price is $114.64.Lennar has witnessed price fluctuations in the last year, reaching a 52-week low of $69.90 and a 52-week high of $133.24.
The company reports an impressive debt-to-equity ratio of 0.15, highlighting its sound financial standing.Additionally, it maintains a quick ratio of 1.25 and a current ratio of 7.09, which demonstrates its ability to meet short-term obligations effectively.
As the real estate industry holds great potential for future growth and development,the recent coverage by various analysts along with insider transactions provide valuable insights for investors considering Lennar Corporation (LEN) as part of their investment portfolio.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. Investing in stocks involves risks, and individuals should conduct thorough research before making any investment decisions.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
|Loop Capital Markets||Buy|
Lennar Co. (NYSE:LEN) Reports Strong Q4 2023 Earnings and Attracts Institutional Investors Confidence
Lennar Co. (NYSE:LEN), a leading construction company, has recently seen its Q4 2023 earnings estimates raised by analysts at Seaport Res Ptn. In a note issued to investors on September 17th, Seaport Res Ptn analyst K. Zener now forecasts that Lennar will earn $4.65 per share for the quarter, up from their previous estimate of $4.26 per share.
Seaport Res Ptn holds a “Buy” rating on Lennar’s stock, indicating their positive outlook for the company’s future performance. The consensus estimate for Lennar’s current full-year earnings stands at $12.56 per share.
In other news related to Lennar, Chief Financial Officer Diane J. Bessette recently sold 10,790 shares of the firm’s stock in a transaction that took place on June 22nd. The shares were sold at an average price of $121.46 per share, resulting in a total transaction value of $1,310,553.40. Following the sale, Bessette now owns 270,556 shares of Lennar’s stock, valued at approximately $32,861,731.76.
On July 21st, Director Amy Banse acquired 790 shares of Lennar’s stock at an average price of $126.42 per share, with a total value of $99,871.80. After this purchase, Banse now directly owns 7,293 shares of the company’s stock valued at $921,981.06.
It is worth mentioning that in the last quarter alone, insiders have acquired 2,634 shares worth $321,855 of Lennar’s stock which represents 9.53% ownership by insiders within the company.
On September 15th this year Lennar reported its quarterly earnings data which surpassed analysts’ consensus estimates. The construction company posted earnings per share of $3.91, beating the forecasted $3.52 by $0.39. Lennar also reported revenue of $8.73 billion for the quarter, higher than analysts’ estimates of $8.49 billion.
Lennar had a net margin of 11.66% and a return on equity of 16.41%. Although the firm’s revenue for the quarter was down 2.3% compared to the same period last year, it is clear that Lennar is still maintaining a strong financial position.
In terms of ownership, several institutional investors have either increased or decreased their stakes in Lennar recently. For instance, First Trust Advisors LP saw its stake in Lennar grow by 551.1% in the first quarter, now owning 1,824,684 shares valued at $191,793,000 after acquiring an additional 1,544,432 shares during that period.
Pacer Advisors Inc., on the other hand, grew its stake in Lennar by 111.4% during the first quarter and now holds 2,467,501 shares valued at $259,359,000 after acquiring an additional 1,300,163 shares.
Bank Julius Baer & Co. Ltd Zurich experienced significant growth in its stake as well by acquiring an additional 934,746 shares during the second quarter; this puts their total ownership at approximately 935,987 shares with a valuation of $117,288,000.
Alyeska Investment Group L.P., a new player in Lennar’s shareholder list as of the first quarter valued its recent purchase at approximately $61 million.
Lastly Duquesne Family Office LLC entered into the mix with a new position acquisition worth around $39 million during the fourth quarter.
Overall institutional investors and hedge funds now own approximately 79.87% of Lennar’s stock, indicating notable confidence in the company.
As Lennar continues to make strides and exceed market expectations, its stock continues to be an attractive investment option for many institutional investors. With positive growth prospects for the future, it will be interesting to see how the remainder of 2023 unfolds for this leading construction company.