Lennar (NYSE:LEN) Shares Gap Up - Still a Buy?

Shares of Lennar Co. (NYSE:LEN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $109.49, but opened at $113.99. Lennar shares last traded at $112.87, with a volume of 679,305 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEN. Royal Bank of Canada reduced their price objective on Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a research note on Monday, March 24th. Wedbush reiterated a "neutral" rating and issued a $158.00 price objective on shares of Lennar in a research report on Monday, March 17th. Seaport Res Ptn upgraded shares of Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. UBS Group lowered their target price on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and a consensus price target of $150.07.

Lennar Price Performance

The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $107.98 and a 200 day moving average price of $122.83. The stock has a market cap of $28.49 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.24 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. During the same quarter last year, the business earned $3.45 EPS. The business's revenue was down 4.4% compared to the same quarter last year. On average, analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's dividend payout ratio is currently 14.57%.

Hedge Funds Weigh In On Lennar

Large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its stake in Lennar by 10.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company's stock worth $1,006,000 after purchasing an additional 672 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Lennar by 29.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 82,572 shares of the construction company's stock worth $11,246,000 after purchasing an additional 18,800 shares in the last quarter. Candriam S.C.A. increased its stake in Lennar by 47.9% in the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company's stock worth $2,407,000 after buying an additional 5,718 shares during the period. TrueMark Investments LLC purchased a new position in shares of Lennar in the 4th quarter valued at approximately $1,331,000. Finally, Strategic Financial Concepts LLC purchased a new position in Lennar during the fourth quarter worth approximately $4,015,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Company Profile

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.

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