Brokerages Set Lennar Corporation (NYSE:LEN) PT at $106.38

Shares of Lennar Corporation (NYSE:LEN) have earned an average recommendation of “Reduce” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $106.3846.

Several research firms have recently weighed in on LEN. Wells Fargo & Company lowered their target price on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. Citigroup decreased their price objective on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Citizens Jmp reiterated a “market perform” rating on shares of Lennar in a research note on Wednesday, January 7th. Evercore ISI downgraded Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. Finally, UBS Group cut Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the company from $137.00 to $122.00 in a report on Tuesday, January 6th.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT raised its stake in Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after buying an additional 86 shares during the period. RFG Advisory LLC grew its stake in Lennar by 2.1% in the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after acquiring an additional 87 shares during the period. UMB Bank n.a. grew its position in shares of Lennar by 6.2% in the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after purchasing an additional 93 shares during the period. Finally, ORG Wealth Partners LLC increased its position in shares of Lennar by 5.2% during the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after acquiring an additional 102 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 0.8%

NYSE LEN opened at $110.93 on Thursday. Lennar has a 1-year low of $98.42 and a 1-year high of $144.24. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $115.97 and its two-hundred day moving average is $121.72. The company has a market capitalization of $28.29 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.61 and a beta of 1.42.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business earned $4.03 EPS. Lennar’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, February 4th. Lennar’s dividend payout ratio is presently 25.03%.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.