SSgA Funds Management, Inc. has recently announced that it has increased stake in Lennar Corp. (NYSE:LEN) by 1.10%. After grabbing 11.56 million shares, the institutional investor is now in possession of 0.13 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.62% having worth around $1.48 billion. Moreover, Fidelity Management & Research Co increased its share by 0.29 million to have a control over 10.85 million shares. And Manulife Investment Management raised its holdings to 0.37 million shares by acquiring 6.54 million shares or 2.62% of the stake.
Lennar Corp. (LEN) concluded trading on 01/10/24 at a closing price of $153.35, with 3.63 million shares of worth about $556.89 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.54% during that period and on Wednesday the price saw a gain of about 3.50%. Currently the company’s common shares owned by public are about 253.63M shares, out of which, 244.79M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the LEN stock and their offered price forecasts bring an average price target of $160.95. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $190.00 and could fall to a lowest price of $122.00. The stock’s current price level is 4.72% above of average price target set by the analysts, while a rise to estimated low would result in loss of -25.7% for the stock. However, touching the estimated high of $190.00 would mean a gain of 19.29% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 1,168,699 shares in 33 of the transactions. In 25 selling transactions, insiders dumped 440,774 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Lennar Corp. Vanguard Total Stock Market ETF is currently holding 7.24 million shares of worth totaling $926.23 million. The company recently came buying 9518.0 shares which brought its stake up to 2.90% of the company’s outstanding shares. Vanguard 500 Index Fund bought 26793.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 6.03 million shares with the mutual fund that have a worth of about $771.92 million. Vanguard Mid Cap Index Fund, after buying 5.76 million shares, have now control over 2.30% of the stake in the company. It holds 16443.0 shares of worth $736.44 million.
Lennar Corp. (NYSE: LEN) started trading at $152.60, above $4.44 from concluding price of the previous day. However, the stock later moved at a day high price of 155.40, or with a gain of 3.50%. Stock saw a price change of 5.28% in past 5 days and over the past one month there was a price change of 9.87%. Year-to-date (YTD), LEN shares are showing a performance of 2.89% which increased to 60.93% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $94.11 but also hit the highest price of $156.01 during that period. The average intraday trading volume for Lennar Corp. shares is 1.95 million. The stock is currently trading 4.14% above its 20-day simple moving average (SMA20), while that difference is up 15.02% for SMA50 and it goes to 28.00% higher than SMA200.
SSgA Funds Management, Inc. acquired 11.56 million shares of Lennar Corp. having value of about $1.48 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.13 million shares in the company valued at close to $19213374.85, or have control over 1.10% stake in the company. Lennar Corp. (NYSE: LEN) currently have 253.63M outstanding shares and institutions hold larger chunk of about 82.68% of that. Holding of mutual funds in the company is about 42.64% while other institutional holders and individual stake holders have control over 52.01% and 2.64% of the stake respectively.
The stock has a current market capitalization of $43.61B and its 3Y-monthly beta is at 1.52. PE ratio of stock for trailing 12 months is 11.14, while it has posted earnings per share of $13.76 in the same period. Its PEG reads 18.57 and has Quick Ratio of 1.72 while making debt-to-equity ratio of 0.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LEN, volatility over the week remained 1.80% while standing at 2.40% over the month.
Analysts are in expectations that Lennar Corp. (LEN) stock would likely to be making an EPS of $Linde plc in the current quarter, while forecast for next quarter EPS is $405.88 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Wendy’s Company (The) which is $Leggett & Platt, Incorporated at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Centrus Energy Corp. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 4.82% while it is estimated to increase by 11.51% in next year. EPS is likely to shrink at an annualized rate of 0.60% for next 5-years, compared to annual growth of 20.35% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Lennar Corp. (LEN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.04. Out of those 23 Wall Street analysts, 12 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 27, 2023 offering a Hold rating for the stock and assigned a target price of $117 to it.
