Lennar (NYSE:LEN) Price Target Lowered to $135.00 at Barclays

Lennar (NYSE:LEN) had its price target cut by Barclays from $181.00 to $135.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

A number of other brokerages have also recently commented on LEN. Keefe, Bruyette & Woods lifted their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average price target of $175.94.

Lennar Trading Down 0.2 %

LEN stock opened at $138.08 on Friday. Lennar has a one year low of $135.21 and a one year high of $193.80. The company has a market capitalization of $37.45 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company’s 50 day moving average price is $168.98 and its two-hundred day moving average price is $169.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.82 earnings per share. As a group, analysts predict that Lennar will post 14.11 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. Lennar’s dividend payout ratio (DPR) is 13.95%.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after buying an additional 73,638 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Smead Capital Management Inc. increased its holdings in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. boosted its stake in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after purchasing an additional 1,962,447 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares during the last quarter. 81.10% 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, 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; and development, construction, and management of multifamily rental properties.