Lennar Co. (NYSE:LEN) Short Interest Update

Lennar Co. (NYSE:LEN) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 6,270,000 shares, a growth of 24.4% from the October 15th total of 5,040,000 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,810,000 shares, the short-interest ratio is presently 3.5 days.

Lennar Trading Up 0.3 %

Shares of Lennar stock traded up $0.51 on Friday, reaching $170.31. The company had a trading volume of 613,986 shares, compared to its average volume of 2,044,155. The firm has a market cap of $46.19 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.56 and a beta of 1.62. The firm’s 50-day moving average price is $179.56 and its two-hundred day moving average price is $168.66. Lennar has a 1 year low of $125.17 and a 1 year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 earnings per share. As a group, research analysts predict that Lennar will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LEN shares. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Bank of America lifted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada upped their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Barclays lifted their price target on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $180.56.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

A number of large investors have recently bought and sold shares of LEN. Integrated Wealth Concepts LLC raised its stake in shares of Lennar by 5.9% during the third quarter. Integrated Wealth Concepts LLC now owns 19,557 shares of the construction company’s stock valued at $3,666,000 after acquiring an additional 1,092 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Lennar by 0.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 691,910 shares of the construction company’s stock worth $129,719,000 after purchasing an additional 3,130 shares during the period. HighVista Strategies LLC bought a new position in shares of Lennar during the 3rd quarter worth $1,444,000. Hilltop Holdings Inc. bought a new position in Lennar during the 3rd quarter worth about $533,000. Finally, Holocene Advisors LP bought a new stake in Lennar during the 3rd quarter valued at $115,229,000. Hedge funds and other institutional investors 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.