Lennar Corporation (LEN) Earns “Buy” Rating from Mizuho

Mizuho reiterated their buy rating on shares of Lennar Corporation (NYSE:LEN) in a research report released on Tuesday, July 11th.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Lennar Corporation from a buy rating to a hold rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated an outperform rating on shares of Lennar Corporation in a research report on Thursday, April 6th. Royal Bank Of Canada upped their target price on shares of Lennar Corporation from $53.00 to $60.00 and gave the company an outperform rating in a research report on Wednesday, March 22nd. Bank of America Corporation restated a buy rating and issued a $63.00 price objective (up previously from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Finally, MKM Partners restated a neutral rating and issued a $58.00 price objective (up previously from $55.00) on shares of Lennar Corporation in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $56.53.

Lennar Corporation (NYSE:LEN) opened at 54.43 on Tuesday. The stock has a 50 day moving average price of $53.13 and a 200-day moving average price of $50.66. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 15.91 and a beta of 1.26.

Lennar Corporation (NYSE:LEN) last announced its earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. Lennar Corporation’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. Equities analysts forecast that Lennar Corporation will post $3.82 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, July 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. Lennar Corporation’s dividend payout ratio is presently 4.68%.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.18% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock worth $166,876,000 after buying an additional 625,329 shares during the period. Greenwood Capital Associates LLC boosted its position in shares of Lennar Corporation by 7.6% in the second quarter. Greenwood Capital Associates LLC now owns 5,845 shares of the construction company’s stock worth $312,000 after buying an additional 415 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Lennar Corporation by 11.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 58,234 shares of the construction company’s stock worth $3,105,000 after buying an additional 5,896 shares during the period. Pacer Advisors Inc. boosted its position in shares of Lennar Corporation by 8.6% in the second quarter. Pacer Advisors Inc. now owns 4,386 shares of the construction company’s stock worth $234,000 after buying an additional 348 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Lennar Corporation by 10.3% in the second quarter. Utah Retirement Systems now owns 36,443 shares of the construction company’s stock worth $1,943,000 after buying an additional 3,400 shares during the period. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Lennar Corporation Company Profile

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar Corporation (NYSE:LEN)

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