Lennar Corporation (NYSE: LEN) stock jumped 1.49% on Thursday to $117.70 against a previous-day closing price of $115.97. With 3.01 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.2 million shares. The 52-week range on LEN shows that it touched its highest point at $133.24 and its lowest point at $69.90 during that stretch. It currently has a 1-year price target of $138.17. With its current market cap of 37.34 billion, LEN has annualized dividend of $1.50 while the current yield stands at 1.27%. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LEN was down-trending over the past week, with a drop of -0.32%, but this was down by -6.63% over a month. Three-month performance surged to 2.57% while six-month performance rose 17.48%. The stock gained 58.56% in the past year, while it has gained 30.06% so far this year. A look at the trailing 12-month EPS for LEN yields 14.67 with Next year EPS estimates of 13.61. For the next quarter, that number is 4.09. This implies an EPS growth rate of 10.30% for this year and 7.76% for next year. EPS is expected to grow by 0.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 36.00%.
Float and Shares Shorts:
At present, 284.91 million LEN shares are outstanding with a float of 246.20 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.68 million, which was 1.98% higher than short shares on Jul 30, 2023. In addition to Mr. Stuart A. Miller as the firm’s Co-CEO & Exec. Chairman, Mr. Jonathan M. Jaffe serves as its Co-CEO, Pres & Director.
Through their ownership of 91.17% of LEN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.49% of LEN, in contrast to 40.44% held by mutual funds. Shares owned by individuals account for 2.84%. As the largest shareholder in LEN with 10.73% of the stake, The Vanguard Group, Inc. holds 27,100,974 shares worth 27,100,974. A second-largest stockholder of LEN, BlackRock Fund Advisors, holds 16,493,421 shares, controlling over 6.53% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in LEN, holding 13,565,922 shares or 5.37% stake. With a 2.87% stake in LEN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,258,740 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.38% of LEN stock, is the second-largest Mutual Fund holder. It holds 6,011,538 shares valued at 762.44 million. Vanguard Mid Cap Index Fund holds 2.35% of the stake in LEN, owning 5,938,151 shares worth 753.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LEN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LEN analysts setting a high price target of $161.00 and a low target of $111.00, the average target price over the next 12 months is $137.70. Based on these targets, LEN could surge 36.79% to reach the target high and fall by -5.69% to reach the target low. Reaching the average price target will result in a growth of 16.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LEN stock several times over the past three months with 2 Buys and 3 Sells. In these transactions, 955 shares were bought while 22,656 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 1,377,424 while 489,474 shares were sold.