Lennar Co. (NYSE:LEN) Short Interest Update

Lennar Co. (NYSE:LEN) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,040,000 shares, an increase of 7.9% from the September 30th total of 4,670,000 shares. Based on an average trading volume of 1,830,000 shares, the short-interest ratio is presently 2.8 days. Approximately 2.2% of the company’s shares are short sold.

Lennar Price Performance

Shares of NYSE LEN traded down $1.20 during mid-day trading on Thursday, reaching $170.30. 1,605,699 shares of the company traded hands, compared to its average volume of 2,058,228. Lennar has a fifty-two week low of $104.68 and a fifty-two week high of $193.80. The firm has a market cap of $46.19 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. The stock has a fifty day simple moving average of $181.65 and a 200-day simple moving average of $167.45. 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 released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Lennar’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Lennar will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Finally, Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $181.11.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently bought and sold shares of LEN. Oakworth Capital Inc. acquired a new stake in Lennar during the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar during the third quarter valued at $30,000. J.Safra Asset Management Corp purchased a new stake in Lennar in the 1st quarter worth about $30,000. Finally, Asset Dedication LLC boosted its position in Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors 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.