Lennar Co. (NYSE:LEN) Sees Significant Increase in Short Interest

Lennar Co. (NYSE:LEN) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 6,270,000 shares, an increase of 24.4% from the October 15th total of 5,040,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is currently 3.5 days.

Lennar Trading Down 0.6 %

NYSE:LEN traded down $0.95 on Friday, reaching $168.85. The company’s stock had a trading volume of 1,728,376 shares, compared to its average volume of 2,014,268. The firm has a market cap of $45.80 billion, a PE ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The business’s 50-day moving average price is $179.35 and its two-hundred day moving average price is $168.88. Lennar has a 1-year low of $125.17 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $3.91 EPS. Equities research analysts anticipate that Lennar will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of recent analyst reports. Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Wells Fargo & Company decreased their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $180.56.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction 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 $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.36% of the stock is currently owned by insiders.

Institutional Trading of Lennar

A number of institutional investors have recently modified their holdings of LEN. Moors & Cabot Inc. increased its stake in Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after buying an additional 66 shares during the last quarter. Lakewood Asset Management LLC increased its position in shares of Lennar by 0.8% during the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after purchasing an additional 71 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after buying an additional 73 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after buying an additional 74 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

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.