Lennar (NYSE:LEN) Shares Gap Down to $145.93

Lennar Co. (NYSE:LEN) gapped down before the market opened on Tuesday . The stock had previously closed at $145.93, but opened at $141.71. Lennar shares last traded at $142.35, with a volume of 113,705 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada restated an “underperform” rating and set a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 price target on shares of Lennar in a report on Tuesday, June 18th. UBS Group raised their price target on Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a report on Friday, March 15th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Wedbush reaffirmed an “underperform” rating and issued a $144.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and an average price target of $166.69.

Lennar Trading Down 0.1 %

The stock has a 50-day simple moving average of $155.87 and a 200 day simple moving average of $155.43. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $39.92 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.29 and a beta of 1.60.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Activity

In related news, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 in the last quarter. 9.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lennar

Large investors have recently bought and sold shares of the business. Integrated Advisors Network LLC raised its holdings in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after purchasing an additional 19,985 shares during the period. First National Bank of Mount Dora Trust Investment Services raised its holdings in Lennar by 331.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock worth $2,069,000 after purchasing an additional 9,246 shares during the period. Grayhawk Investment Strategies Inc. acquired a new position in Lennar in the 4th quarter worth about $838,000. Coastline Trust Co increased its stake in Lennar by 80.8% during the 4th quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after buying an additional 10,957 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Lennar by 53.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after buying an additional 11,851 shares in the last quarter. Institutional investors and hedge funds own 81.10% 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.