Stock Traders Purchase High Volume of Lennar Call Options (NYSE:LEN)

Lennar Corporation (NYSE:LEN) was the recipient of unusually large options trading on Thursday. Stock investors acquired 12,510 call options on the company. This represents an increase of 120% compared to the typical volume of 5,683 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, June 16th. Evercore lifted their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. Truist Financial lowered their price target on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada cut their price target on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $92.13.

Lennar Stock Performance

Lennar stock opened at $86.35 on Friday. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm has a market cap of $20.80 billion, a P/E ratio of 13.51, a P/E/G ratio of 2.83 and a beta of 1.39. Lennar has a 1-year low of $79.82 and a 1-year high of $144.24. The firm has a 50-day moving average of $86.35 and a 200-day moving average of $92.30.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Lennar will post 5.52 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s dividend payout ratio (DPR) is presently 31.30%.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC grew its position in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares in the last quarter. Rossby Financial LCC increased its stake in Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after acquiring an additional 88 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after acquiring an additional 100 shares during the last quarter. KDT Advisors LLC raised its holdings in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after acquiring an additional 123 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its position in shares of Lennar by 1.3% during the 1st quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.