Wedbush set a $60.00 target price on Lennar (NYSE:LEN) in a research report released on Thursday morning. The brokerage currently has a hold rating on the construction company’s stock. Wedbush also issued estimates for Lennar’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $1.21 EPS, Q3 2018 earnings at $1.48 EPS and Q4 2018 earnings at $1.91 EPS.
LEN has been the subject of a number of other reports. UBS Group initiated coverage on shares of Lennar in a research note on Wednesday, October 25th. They issued a buy rating for the company. Zacks Investment Research raised shares of Lennar from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Friday, September 15th. MKM Partners raised shares of Lennar from a neutral rating to a buy rating and set a $64.00 price target for the company in a research note on Wednesday, October 4th. Bank of America increased their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, October 4th. Finally, Mizuho reissued a hold rating and issued a $53.00 price target on shares of Lennar in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.60.
Lennar (LEN) traded down $0.28 during mid-day trading on Thursday, reaching $66.95. 4,595,700 shares of the company were exchanged, compared to its average volume of 4,650,900. Lennar has a 12 month low of $43.13 and a 12 month high of $67.45. The company has a market capitalization of $15,600.00, a P/E ratio of 19.29, a P/E/G ratio of 1.34 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.
In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 371,043 shares in the company, valued at $22,262,580. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the sale, the chief operating officer now owns 99,000 shares in the company, valued at approximately $6,337,980. The disclosure for this sale can be found here. Corporate insiders own 12.18% of the company’s stock.
Several large investors have recently bought and sold shares of LEN. D.A. Davidson & CO. grew its holdings in shares of Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after buying an additional 155 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Lennar by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the last quarter. QS Investors LLC boosted its holdings in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the last quarter. Chartist Inc. CA purchased a new stake in Lennar in the second quarter worth approximately $200,000. Finally, Fiera Capital Corp purchased a new stake in Lennar in the second quarter worth approximately $224,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.
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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.
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