The Lennar Corporation (LEN) Receives New Coverage from Analysts at BTIG Research, Report finds

Several other equities analysts also recently issued reports on LEN. Argus reissued a buy rating and set a $55.00 price target on shares of Lennar Corporation in a report on Friday, October 21st. Zacks Investment Research downgraded shares of Lennar Corporation from a buy rating to a hold rating in a report on Thursday, December 22nd. Evercore ISI reissued a buy rating and set a $55.00 price target on shares of Lennar Corporation in a report on Tuesday, December 13th. MKM Partners reissued a neutral rating on shares of Lennar Corporation in a report on Friday, December 23rd. Finally, Raymond James Financial, Inc. raised shares of Lennar Corporation from an outperform rating to a strong-buy rating in a report on Monday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $53.08.

BTIG Research started coverage on shares of Lennar Corporation (NYSE:LEN) in a research report sent to investors on Tuesday. The firm issued a buy rating and a $56.00 target price on the stock.

Shares of Lennar Corporation (NYSE:LEN) opened at 46.81 on Tuesday. The company’s 50-day moving average is $44.47 and its 200-day moving average is $44.14. The company has a market capitalization of $10.98 billion, a PE ratio of 11.90 and a beta of 1.27. Lennar Corporation has a one year low of $39.50 and a one year high of $49.60.

Lennar Corporation (NYSE:LEN) last announced its quarterly earnings results on Monday, December 19th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.06. Lennar Corporation had a net margin of 8.33% and a return on equity of 13.80%. The firm earned $3.38 million during the quarter. During the same period in the prior year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts predict that Lennar Corporation will post $3.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Investors of record on Friday, January 27th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Wednesday, January 25th. Lennar Corporation’s dividend payout ratio is currently 4.07%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in Lennar Corporation during the second quarter valued at $5,570,000. Retirement Systems of Alabama boosted its position in Lennar Corporation by 0.7% in the second quarter. Retirement Systems of Alabama now owns 93,501 shares of the company’s stock valued at $4,310,000 after buying an additional 677 shares during the period. Concert Wealth Management Inc. boosted its position in Lennar Corporation by 4.1% in the second quarter. Concert Wealth Management Inc. now owns 7,946 shares of the company’s stock valued at $366,000 after buying an additional 315 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Lennar Corporation by 2.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,207 shares of the company’s stock valued at $654,000 after buying an additional 356 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Lennar Corporation by 0.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 583,705 shares of the company’s stock valued at $26,909,000 after buying an additional 3,253 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

About Lennar Corporation

Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.

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