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Trader Alert: Unusual Volume Spotted in Lennar Corporation (NYSE:LEN)

Trader Alert: Unusual Volume Spotted in Lennar Corporation (NYSE:LEN)”

Lennar Corporation (NYSE:LEN)'s market cap, the total dollar value of all of their outstanding shares, is 12161.32m.

Several large investors have recently made changes to their positions in LEN.

The homebuilder posted revenue of $3.26 billion in the period, also exceeding Street forecasts. Korea Investment CORP bought a new stake in shares of Lennar Corporation during the first quarter valued at about $2,790,000. Lennar Corporation has a one year low of $39.68 and a one year high of $54.84. Finally, Norinchukin Bank The raised its position in Lennar Corporation by 10.8% in the first quarter. Raymond James raised its rating on Lennar Corporation to Strong Buy on 31/10/2016 in a reversal from its prior Outperform rating. They set a "buy" rating and a $59.00 price objective for the company. The stock has a market capitalization of $12.37 billion, a PE ratio of 15.26 and a beta of 1.32. The company's quarterly revenue was up 17.2% compared to the same quarter previous year. The stock has an average rating of "Buy" and a consensus target price of $54.19. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company's stock valued at $155,000 after buying an additional 248 shares in the last quarter. The company has a 50-day moving average price of $51.58 and a 200-day moving average price of $48.57. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company's stock valued at $107,222,000 after buying an additional 1,760,608 shares during the period. Cleararc Capital Inc. now owns 4,946 shares of the construction company's stock valued at $253,000 after buying an additional 167 shares in the last quarter. The stock notched a 12-month high of $55.34 while $61.00 target is by far the most aggressive out of analysts who are now evaluating the company, $5.66 higher than the next highest 52-week price estimate. United Services Automobile Association increased its position in shares of Lennar by 1.6% in the third quarter.

Lennar Corporation (LEN) now has P/E (Price to Earnings) ratio of 15.33 while the company's industry has 13.23 P/E and the sector P/E is 21.77. The company's 5 year Earnings per share growth and Capital Spending growth remains at 52.05 and 0.

Analysts on average had expected earnings of 78 cents, according to Thomson Reuters I/B/E/S.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 16th. Stockholders of record on Tuesday, May 2nd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Friday, April 28th. Wedbush restated a "neutral" rating and issued a $46.00 price target on shares of Lennar Corporation in a report on Thursday, June 15th.

COPYRIGHT VIOLATION NOTICE: This story was first published by Chaffey Breeze and is owned by of Chaffey Breeze.

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Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.



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