Lennar Co. (NYSE:LEN – Free Report) – Investment analysts at Seaport Res Ptn increased their Q4 2023 earnings estimates for shares of Lennar in a research report issued on Sunday, September 17th. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will post earnings of $4.65 per share for the quarter, up from their prior forecast of $4.26. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Lennar’s current full-year earnings is $12.56 per share.
Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.39. The business had revenue of $8.73 billion for the quarter, compared to analyst estimates of $8.49 billion. Lennar had a net margin of 11.66% and a return on equity of 16.41%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.18 EPS.
Lennar Stock Performance
Shares of Lennar stock opened at $117.29 on Tuesday. The firm has a market cap of $33.71 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.48. The firm’s 50-day simple moving average is $122.20 and its 200-day simple moving average is $114.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09. Lennar has a 1 year low of $69.90 and a 1 year high of $133.24.
Lennar Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s dividend payout ratio (DPR) is presently 11.12%.
Insider Activity
In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the completion of the transaction, the executive vice president now directly owns 141,386 shares in the company, valued at $17,882,501.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lennar news, Director Amy Banse bought 790 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average cost of $126.42 per share, with a total value of $99,871.80. Following the completion of the purchase, the director now directly owns 7,293 shares in the company, valued at $921,981.06. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the sale, the executive vice president now directly owns 141,386 shares of the company’s stock, valued at $17,882,501.28. The disclosure for this sale can be found here. Insiders purchased 2,634 shares of company stock worth $321,855 over the last three months. Corporate insiders own 9.53% of the company’s stock.
Institutional Trading of Lennar
Several institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Close Asset Management Ltd purchased a new stake in shares of Lennar in the 1st quarter valued at approximately $37,000. MV Capital Management Inc. lifted its position in shares of Lennar by 47.0% in the 1st quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock valued at $42,000 after acquiring an additional 127 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in shares of Lennar in the 2nd quarter valued at approximately $46,000. West Tower Group LLC purchased a new stake in shares of Lennar in the 2nd quarter valued at approximately $57,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Lennar in the 2nd quarter valued at approximately $61,000. 79.87% of the stock is owned by institutional investors and hedge funds.
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.
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