Brokerages Set Lennar Co. (NYSE:LEN) Price Target at $166.47

Lennar Co. (NYSE:LEN) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $167.31.

A number of brokerages have issued reports on LEN. BTIG Research reduced their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. UBS Group increased their price target on shares of Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup decreased their price objective on shares of Lennar from $198.00 to $174.00 and set a “buy” rating for the company in a report on Friday, June 21st.

Insider Buying and Selling

In other Lennar news, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the sale, the vice president now owns 16,768 shares in the company, valued at approximately $2,764,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Lennar news, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the sale, the vice president now directly owns 16,768 shares in the company, valued at approximately $2,764,707.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the sale, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in Lennar in the 3rd quarter valued at about $491,000. LPL Financial LLC lifted its position in shares of Lennar by 15.9% in the third quarter. LPL Financial LLC now owns 110,053 shares of the construction company’s stock valued at $12,351,000 after buying an additional 15,136 shares during the last quarter. Algert Global LLC bought a new position in shares of Lennar during the 3rd quarter worth approximately $230,000. Cary Street Partners Investment Advisory LLC raised its stake in Lennar by 437.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 871 shares of the construction company’s stock valued at $98,000 after acquiring an additional 709 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lennar by 17.9% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,772 shares of the construction company’s stock valued at $311,000 after purchasing an additional 420 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Lennar stock opened at $149.87 on Wednesday. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59. The company’s 50-day moving average is $156.22 and its two-hundred day moving average is $155.36. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $41.71 billion, a PE ratio of 10.19, a PEG ratio of 1.34 and a beta of 1.56.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. Lennar’s dividend payout ratio is currently 13.60%.

About Lennar

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.