Lennar (NYSE:LEN) Downgraded by Raymond James to Market Perform

Raymond James cut shares of Lennar (NYSE:LEN) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Several other research analysts have also recently weighed in on LEN. Citigroup reissued a neutral rating and issued a $164.00 price target (down from $174.00) on shares of Lennar in a report on Tuesday. BTIG Research lowered their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating on the stock in a report on Thursday, June 20th. JMP Securities reissued a market outperform rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Wedbush reissued an underperform rating and issued a $144.00 price target on shares of Lennar in a report on Tuesday, June 18th. Finally, Royal Bank of Canada reissued an underperform rating and issued a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Lennar has an average rating of Hold and a consensus price target of $166.69.

Lennar Stock Down 1.6 %

Shares of LEN stock opened at $143.61 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The firm’s 50-day moving average is $156.11 and its 200-day moving average is $155.47. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.35 and a beta of 1.60. Lennar has a 52-week low of $102.90 and a 52-week high of $172.59.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors 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 1.39%. Lennar’s dividend payout ratio is 13.60%.

Insider Buying and Selling

In related news, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction 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 accessible through this hyperlink. In other Lennar news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction that occurred 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 owns 16,768 shares in the company, valued at $2,764,707.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 29,176 shares of company stock worth $4,841,039. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Lennar by 5.9% during the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after purchasing an additional 366,983 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Lennar by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after purchasing an additional 79,217 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after purchasing an additional 60,713 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lennar by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock worth $231,067,000 after purchasing an additional 8,008 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Lennar by 6,297.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after purchasing an additional 651,924 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.