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, Financial Services, Multifamily, and Lennar Other 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. It primarily sells single-family attached and detached homes in communities targeted to first-time, move-up, active adult, and luxury homebuyers. The company also offers residential mortgage financing, title insurance, and closing services for home buyers and others. In addition, it involves in the fund investment activity; and originates and sells into securitizations commercial mortgage loans. Further, the company develops, constructs, and manages multifamily rental properties. Lennar Corporation was founded in 1954 and is based in Miami, Florida.
IPO Year:
Exchange: NYSE
Website: lennar.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/7/2024 | $205.00 → $190.00 | Overweight → Equal Weight | Wells Fargo |
| 8/5/2024 | Buy → Neutral | Seaport Research Partners | |
| 7/22/2024 | $180.00 → $174.00 | Buy → Neutral | Goldman |
| 7/9/2024 | $144.00 | Underperform → Neutral | Wedbush |
| 7/2/2024 | Outperform → Mkt Perform | Raymond James | |
| 7/2/2024 | $174.00 → $164.00 | Buy → Neutral | Citigroup |
| 4/2/2024 | $144.00 | Neutral → Underperform | Wedbush |
| 11/27/2023 | $117.00 | Hold | Jefferies |
| 10/17/2023 | $123.00 | Overweight | Wells Fargo |
| 7/14/2023 | $150.00 | Mkt Perform → Outperform | Raymond James |
Wells Fargo downgraded Lennar from Overweight to Equal Weight and set a new price target of $190.00 from $205.00 previously
Seaport Research Partners downgraded Lennar from Buy to Neutral
Goldman downgraded Lennar from Buy to Neutral and set a new price target of $174.00 from $180.00 previously
Wedbush upgraded Lennar from Underperform to Neutral and set a new price target of $144.00
Raymond James downgraded Lennar from Outperform to Mkt Perform
Citigroup downgraded Lennar from Buy to Neutral and set a new price target of $164.00 from $174.00 previously
Wedbush downgraded Lennar from Neutral to Underperform and set a new price target of $144.00
Jefferies initiated coverage of Lennar with a rating of Hold and set a new price target of $117.00
Wells Fargo initiated coverage of Lennar with a rating of Overweight and set a new price target of $123.00
Raymond James upgraded Lennar from Mkt Perform to Outperform and set a new price target of $150.00
Ferguson Enterprises Inc. (the "Company") today announces that it will hold its first annual meeting of stockholders (the "Annual Meeting") on December 5, 2024 as the successor registrant of Ferguson plc, subject to the consummation of the Merger (as defined below), and announces the appointment of Rekha Agrawal and Richard ("Rick") Beckwitt to the Company's board as non-employee directors ("NEDs"). "We are delighted to welcome Rekha and Rick to the Board," said Geoff Drabble, Board Chair of Ferguson Enterprises Inc. "They bring significant operational and leadership experience, creating value for large publicly listed companies operating in the U.S. Their industry knowledge and experienc
Invitation Homes will manage the 4,400 homes in the portfolio that are within its core markets and invest in the joint venture Invitation Homes Inc. (NYSE:INVH), the nation's premier single-family home leasing and management company, announced today that it has entered into a joint venture with Quarterra Group Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN), Centerbridge Partners, L.P., and other high quality institutional investors. As part of their agreement, Invitation Homes has acquired a minority equity interest in a portfolio of single-family homes for lease that are part of the Upward America joint venture. Upward America has selected Invitation Homes to provide ma
MIAMI, July 14, 2023 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced today that after 17 years with Lennar, Rick Beckwitt has decided to retire as a Co-CEO and Co-President and resign as a member of the Board of Directors of the Company. Mr. Beckwitt joined Lennar in March 2006 as Executive Vice President. He was a member of the executive team and worked diligently to weather the collapse of the housing and finance industries during the Great Recession of 2008. Through teamwork and dedication, Lennar was able to stabilize and fortify its foundation, setting the stage for growth and productivity. By April 2018, Mr. Beckwitt became Chief Execu
MIAMI, Nov. 19, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN) announced today that it has entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder based in Fayetteville, Arkansas. Lennar will acquire Rausch Coleman's homebuilding operations, which expects to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024. In connection with Lennar's land light strategy, Lennar intends to assign the purchase of, and option, all of Rausch Coleman's land assets with a third party. With this acquisition, Lennar will expand its footprint into new markets in Arkansas, Oklahoma, Alabama, Kansas and Missouri while adding to
High-Rise Community Offers the Closest Luxury Living to the Water in Sarasota Bay SARASOTA, Fla., Nov. 14, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at Cordelia, a luxury high-rise community in Downtown Sarasota, Fla., on Sarasota Bay. Part of a 14-acre master development, Cordelia includes 240 luxury homes and 13,811 square feet of ground floor retail space. The community sits along a central green space with spectacular views
Emblem community to add 288 apartment homes to bolster attainable housing options in Summerville, S.C. SUMMERVILLE, S.C., Oct. 1, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of construction at Emblem Summerville, an attainably priced community located in the historic city of Summerville, South Carolina, 25 miles northwest of Charleston. Emblem Summerville is a 288-home garden style community with spacious modern homes, an extensive amenitie
MIAMI, Sept. 25, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on October 24, 2024 to holders of record at the close of business on October 9, 2024. About LennarLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes an
Third Quarter 2024 Highlights - comparisons to the prior year quarter Net earnings per diluted share increased 10% to $4.26$3.90, excluding mark-to-market gains on technology investments and one-time items in the Company's Multifamily segmentNet earnings increased 5% to $1.2 billionNew orders increased 5% to 20,587 homesBacklog of 16,944 homes with a dollar value of $7.7 billionDeliveries increased 16% to 21,516 homesTotal revenues of $9.4 billionHomebuilding operating earnings of $1.5 billionGross margin on home sales of 22.5%S,G&A expenses as a % of revenues from home sales of 6.7%Net margin on home sales of 15.8%Financial Services operating earnings of $144 millionMultifamily operating ea
Redmond, Wash. community features 284 luxury homes in Marymoor Village REDMOND, Wash., Sept. 18, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at The Piper. Developed in partnership with QuadReal Property Group ("QuadReal"), a global real estate investment, operating and development company, The Piper is a luxury rental community located along Marymoor Park in Redmond, Washington. The Piper's 284 thoughtfully designed homes offer a distinguished living experience for established professionals seeking an active lifestyle in the heart of the rapidly
Suburban Atlanta community to add 324 new homes to burgeoning metro district, help with attainable housing shortage MCDONOUGH, Ga., Sept. 12, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced construction on Emblem Mill Road, an attainably priced community located in McDonough, Georgia, southeast of Atlanta. Emblem Mill Road is a 324-home, three-story garden-style community with a complete amenities package, excellent accessibility, and convenient proximity
IRVINE, Calif., Sept. 6, 2024 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, today announced it has been named to the Best Places to Work SoCal 2024 list by Best Companies Group, a BridgeTower Media Company. Lennar was recognized and selected based on responses from a detailed and comprehensive survey of its Associates. This is the third year in a row that Lennar has achieved this honor. The selection process and ranking for Best Companies Group's annual award program relies significantly on detailed, anonymous Associate surveys. Key factors such as corporat
MIAMI, Sept. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's largest homebuilders, announced today that the Company will release earnings for the third quarter ended August 31, 2024 after the market closes on September 19, 2024. Additionally, the Company will hold a conference call on September 20, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for a
Garden-style community to bring 312 homes to Summerville, S.C. SUMMERVILLE, S.C., Sept. 4, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, along with development partner Nuveen Real Estate today announced the opening of Emblem Cane Bay North apartment community in Summerville, S.C. Emblem Cane Bay North is a Joint Venture between Quarterra and Nuveen Real Estate. Emblem communities were created by Quarterra to help address the nationwide shortage of attainable housing av
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Shares of Lennar Corp (NYSE:LEN) declined in premarket trading on Monday, just weeks after the company announced plans to spin off its land assets. Although the company is poised to benefit from its greater exposure to entry level and first-time buyers as the Federal Reserve cuts interest rates, this is already reflected in the stock valuation, according to Goldman Sachs. The Lennar Analyst: Susan Maklari downgraded the rating for Lennar from Buy to Neutral, while reducing the price target from $180 to $174. The Lennar Thesis: Following the recent outperformance, the stock may remain range bound in the near term, Maklari said in the downgrade note. Check out other analyst stock r
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Goldman Sachs cut the price target for Lennar Corporation (NYSE:LEN) from $180 to $174. Goldman Sachs analyst Susan Maklari downgraded the stock from Buy to Neutral. Lennar shares gained 0.5% to close at $170.94 on Friday. See how other analysts view this stock. Piper Sandler increased the price target for NVIDIA Corporation (NASDAQ:NVDA) from $120 to $140. Piper Sandler analyst Harsh Kumar maintained an Overweight rating. NVIDIA shares fell 2.6% to close at $117.93 on Friday. See how other analyst
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. Guggenheim analyst John Difucci downgraded the rating for CrowdStrike Holdings, Inc. (NASDAQ:CRWD) from Buy to Neutral. CrowdStrike shares fell 11.1% to settle at $304.96 on Friday. See how other analysts view this stock. See how other analysts view this stock. B. Riley Securities analyst Mike Crawford downgraded Redwire Corporation (NYSE:RDW) from Buy to Neutral, but raised the price target from $6 to $8. Redwire shares fell 0.9% to close at $6.98 on Friday. See how other analysts vie
Goldman Sachs analyst Susan Maklari downgrades Lennar (NYSE:LEN) from Buy to Neutral and lowers the price target from $180 to $174.
These ten large-cap stocks were the best performers in the last week. Are they in your portfolio? Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock escalated 18.28% after a report that the company had discussed plans to split its digital streaming and studio businesses from its legacy television networks. MicroStrategy Inc.’s (NASDAQ:MSTR) stock gained 16.74% last week amid a rise in Bitcoin’s price. D.R. Horton, Inc. (NYSE:DHI) shares surged 12.91% after the company reported better-than-expected Q3 financial results and revised FY24 guidance. The company also authorized a new $4 billion share repurchase. Few analysts raised the price forecasts on the stock. Coinbase Global Inc.’s
Investors with a lot of money to spend have taken a bullish stance on Lennar (NYSE:LEN). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LEN, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 9 uncommon options trades for Lennar. This isn't normal. The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish. Out of all of the special options w
Evercore ISI Group analyst Stephen Kim maintains Lennar (NYSE:LEN) with a Outperform and raises the price target from $237 to $240.
MIAMI, Sept. 25, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on October 24, 2024 to holders of record at the close of business on October 9, 2024. About LennarLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes an
Third Quarter 2024 Highlights - comparisons to the prior year quarter Net earnings per diluted share increased 10% to $4.26$3.90, excluding mark-to-market gains on technology investments and one-time items in the Company's Multifamily segmentNet earnings increased 5% to $1.2 billionNew orders increased 5% to 20,587 homesBacklog of 16,944 homes with a dollar value of $7.7 billionDeliveries increased 16% to 21,516 homesTotal revenues of $9.4 billionHomebuilding operating earnings of $1.5 billionGross margin on home sales of 22.5%S,G&A expenses as a % of revenues from home sales of 6.7%Net margin on home sales of 15.8%Financial Services operating earnings of $144 millionMultifamily operating ea
MIAMI, Sept. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's largest homebuilders, announced today that the Company will release earnings for the third quarter ended August 31, 2024 after the market closes on September 19, 2024. Additionally, the Company will hold a conference call on September 20, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for a
MIAMI, June 20, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on July 19, 2024 to holders of record at the close of business on July 5, 2024. About Lennar Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, th
Second Quarter 2024 Highlights - comparisons to the prior year quarter Net earnings per diluted share increased 15% to $3.45$3.38, excluding mark-to-market losses on technology investments and one-time gain on sale of a technology investmentNet earnings increased 9% to $954 millionNew orders increased 19% to 21,293 homesBacklog of 17,873 homes with a dollar value of $8.2 billionDeliveries increased 15% to 19,690 homesTotal revenues of $8.8 billionHomebuilding operating earnings of $1.3 billionGross margin on home sales of 22.6%S,G&A expenses as a % of revenues from home sales of 7.5%Net margin on home sales of 15.1%Financial Services operating earnings of $146 millionMultifamily operating lo
MIAMI, June 4, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's largest homebuilders, announced today that the Company will release earnings for the second quarter ended May 31, 2024 after the market closes on June 17, 2024. Additionally, the Company will hold a conference call on June 18, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generation
Return to Volume Growth Driven by Continued Execution Third quarter highlights Sales grew 2.4% driven by volume improvement despite continued deflation of approximately 2%. Operating margin of 8.6% (9.2% on an adjusted basis). Diluted earnings per share of $2.18 ($2.32 on an adjusted basis) grew by 33.7% over the prior year (up 5.5% on an adjusted basis). Operating cash flow of $1,507 million on a fiscal year to date basis. Declared quarterly dividend of $0.79, reflecting a 5% increase over the prior year. Completed three acquisitions during the quarter and two subsequent to the quarter. We have now made eight acquisitions on a fiscal year to date basis with aggregate an
MIAMI, April 10, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on May 8, 2024 to holders of record at the close of business on April 24, 2024. About LennarLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, thr
First Quarter 2024 Highlights - comparisons to the prior year quarter Net earnings per diluted share increased 25% to $2.57Net earnings increased 21% to $719 millionNew orders increased 28% to 18,176 homes; new orders dollar value increased 21% to $7.7 billionBacklog of 16,270 homes with a dollar value of $7.4 billionDeliveries increased 23% to 16,798 homesTotal revenues increased 13% to $7.3 billionHomebuilding operating earnings of $1.0 billionGross margin on home sales of 21.8%S,G&A expenses as a % of revenues from home sales of 8.2%Net margin on home sales of 13.6%Financial Services operating earnings of $131 millionMultifamily operating loss of $16 millionLennar Other operating loss of
MIAMI, Feb. 29, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's largest homebuilders, announced today that the Company will release earnings for the first quarter ended February 29, 2024 after the market closes on March 13, 2024. Additionally, the Company will hold a conference call on March 14, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all gen
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