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With a market cap of $36.9 billion, Lennar Corporation (LEN) is the second-largest homebuilder in the United States. The Miami, Florida-based company's operations span homebuilding, financial services, and multifamily development, supported by tech-driven initiatives.
Companies valued at $10 billion or more are generally classified as “large-cap” stocks, and Lennar fits this criterion perfectly. Its strengths lie in its scale, diversified homebuyer base, operational efficiency, and tech-driven innovation.
However, shares of the homebuilder have pulled back 29.1% from its 52-week high of $193.80 met on Sept. 19. Lennar’s shares have soared 24.5% over the past three months, underperforming the broader Nasdaq Composite’s ($NASX) 11.7% rise over the same time frame.
On a YTD basis, LEN stock is up marginally, lagging behind $NASX’s 13.3% rise. In addition, shares of LEN have decreased 23.7% over the past 52 weeks, compared to NASX’s 29.6% return.
Reinforcing a bullish trend, the stock has been trading above its 50-day moving average since early June and over its 200-day moving average since early August.
Lennar shares fell more than 3% on Sept. 9, as part of a broader pullback in homebuilders driven by profit-taking after a strong three-month rally.
Moreover, LEN has performed weaker than its rival, D.R. Horton, Inc. (DHI). DHI stock has decreased 5.1% over the past 52 weeks and has surged 27.2% on a YTD basis.
The stock has a consensus rating of “Hold” from the 19 analysts covering it, and LEN is currently trading above the mean price target of $124.07.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
