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

Lennar Co. (NYSE:LEN) shares gapped down prior to trading 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 traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LEN shares. Argus increased their target price on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JMP Securities restated a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their price objective on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $166.69.

Lennar Trading Down 0.1 %

The stock has a market capitalization of $39.92 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The firm has a 50-day moving average price of $155.87 and a 200-day moving average price 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.

Lennar Announces Dividend

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

Insider Buying and Selling

In other news, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction 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 can be accessed through this link. Also, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were bought 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 $1,861,863. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its position in Lennar by 7.2% in the 4th quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock worth $153,000 after buying an additional 69 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Lennar by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after purchasing an additional 70 shares during the last quarter. Nilsine Partners LLC lifted its position in Lennar by 1.7% in the first quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock valued at $783,000 after purchasing an additional 75 shares during the last quarter. Savant Capital LLC lifted its position in Lennar by 0.9% in the fourth quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 78 shares during the last quarter. Finally, RFG Advisory LLC lifted its position in Lennar by 2.1% in the fourth quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after purchasing an additional 79 shares during the last quarter. 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.