Lennar Target of Unusually High Options Trading (NYSE:LEN)

Lennar Co. (NYSE:LEN) was the target of unusually large options trading activity on Tuesday. Traders acquired 8,666 put options on the stock. This is an increase of approximately 1,074% compared to the typical daily volume of 738 put options.

LEN stock traded down $0.07 during midday trading on Thursday, reaching $46.76. The company had a trading volume of 3,175,301 shares, compared to its average volume of 3,487,023. Lennar has a 1-year low of $37.29 and a 1-year high of $55.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79. The company’s 50 day simple moving average is $50.17. The stock has a market capitalization of $15.39 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 1.05 and a beta of 1.18.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.17. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 earnings per share. Research analysts anticipate that Lennar will post 5.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Wednesday, July 10th. Lennar’s dividend payout ratio is currently 2.52%.

LEN has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a GBX 785 ($10.26) target price on shares of in a research report on Wednesday, June 26th. Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research report on Thursday, May 30th. BTIG Research set a $65.00 price target on shares of Lennar and gave the company a “buy” rating in a research report on Wednesday, June 26th. Bank of America started coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research report on Wednesday, June 26th. They issued an “underperform” rating on the stock. Finally, KeyCorp downgraded shares of WABCO from a “sector weight” rating to a “sector weight” rating in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $56.89.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the sale, the president now owns 346,946 shares of the company’s stock, valued at approximately $17,014,231.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.43% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LEN. Abrams Bison Investments LLC acquired a new position in Lennar in the fourth quarter valued at approximately $115,281,000. MUFG Securities EMEA plc lifted its stake in Lennar by 7,486.3% in the fourth quarter. MUFG Securities EMEA plc now owns 600,000 shares of the construction company’s stock valued at $23,490,000 after buying an additional 592,091 shares during the period. Pictet Asset Management Ltd. lifted its stake in Lennar by 283.2% in the first quarter. Pictet Asset Management Ltd. now owns 576,778 shares of the construction company’s stock valued at $28,314,000 after buying an additional 426,269 shares during the period. Long Pond Capital LP raised its position in shares of Lennar by 21.1% during the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock worth $114,264,000 after purchasing an additional 405,962 shares during the period. Finally, Lakewood Capital Management LP acquired a new position in shares of Lennar during the fourth quarter worth approximately $11,197,000. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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.

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