It is currently trading at $57.30 which is just a bit higher than $53.40, the 50 day moving average and marginally over the 200 day moving average of $52.55. The 50 day moving average went up $3.90 or +7.31% and the 200 day average went up by +9.05%. Trading was light with 2,366K shares changing hands by the end of trading on Tuesday. Overall, volume was down 6.36% under the stocks normal daily volume.
Investors are a little more bullish on Lennar Corporation Class A of late as shown by the change in short interest. The firm recorded a fall in short interest from September 15, 2017 to September 29, 2017 of -2.31%. Short shares decreased from 7,419,780 to 7,248,557 over that timeframe. The short-interest ratio decreased to 3.0 and the percentage of shorted shares was 0.03% on September 29.
Here are a few substantial investment firms who have updated their positions. Seabridge Investment Advisors LLC downsized its position by selling 1,120 shares a decrease of 53.0% in the quarter. Seabridge Investment Advisors LLC currently owns 994 shares valued at $52,000. The total value of its holdings decreased 54.0%. Shell Asset Management CO cut its ownership by shedding 4,071 shares a decrease of 29.4%. Shell Asset Management CO controls 9,754 shares worth $515,000. The value of the position overall is down by 30.1%.
Central Trust Co trimmed its investment by shedding 3,158 shares a decrease of 19.4% from 06/30/2017 to 09/30/2017. Central Trust Co now controls 13,125 shares with a value of $693,000. The total value of its holdings decreased 20.2%. State Treasurer State Of Michigan reduced its holdings by shedding 5,100 shares a decrease of 7.6% as of 09/30/2017. State Treasurer State Of Michigan claims 61,658 shares worth $3,256,000. The value of the position overall is down by 8.5%.
On July 11 the stock rating was downgraded from “Overweight” to “Equal-Weight” in a report issued by Barclays. On September 19, 2017 the stock rating was changed to “Neutral” according to a Mizuho report which is down from the previous “Buy” rating.
October 4 investment analysts at Bank of America held the company rating at “Buy” but raised the price expectation from $49.00 to $63.00. On October 4 Citigroup kept the company rating at “Neutral” and moved up the price target to $59.00 from $48.00.
On October 20 the company was rated “Buy” by Citigroup a boost from the previous “Neutral” rating.
The company is now down by 0.35%% since yesterday’s close of 57.5. Lennar Corporation Class A announced a dividend for shareholders payable on Thursday the 2nd of November 2017. The dividend payment will be $0.040 per share for the quarter which comes to $0.16 on an annualized basis. This dividend amount will represent a yield of $0.28. The ex-dividend date will be on Wednesday the 18th of October 2017.
Lennar Corporation Class A’s P/E ratio is 16.51 and the market cap is 13.48B. In the latest earnings report the EPS was $3.47 and is expected to be $3.82 for the current year with 235,260,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.78 and the next full year EPS is projected to be $4.85.
Lennar Corporation, launched on September 6, 1991, 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. The Company delivered 26,563 new homes as of November 30, 2016. The Business’s segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily. The Company is a developer of multifamily rental properties. Its 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..