Lennar (NYSE:LEN) Shares Gap Down Following Insider Selling

Lennar Co. (NYSE:LEN)’s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $174.09, but opened at $161.75. Lennar shares last traded at $163.46, with a volume of 522,880 shares traded.

Specifically, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

LEN has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays upped their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Trading Up 0.9 %

The business’s 50 day moving average price is $181.82 and its two-hundred day moving average price is $167.43. The company has a market capitalization of $46.55 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.62 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the firm posted $3.91 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

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

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC bought a new stake in shares of Lennar in the first quarter worth $5,592,000. Van ECK Associates Corp increased its position in Lennar by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 40,550 shares of the construction company’s stock valued at $6,974,000 after purchasing an additional 2,506 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Lennar by 1.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,222 shares of the construction company’s stock worth $8,809,000 after purchasing an additional 943 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Lennar by 12.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,227 shares of the construction company’s stock worth $1,243,000 after purchasing an additional 794 shares during the period. Finally, BNP Paribas acquired a new stake in shares of Lennar during the first quarter worth $1,479,000. 81.10% of the stock is currently owned by institutional investors.

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.