Analysts Set Lennar Co. (NYSE:LEN) Target Price at $107.92

Posted by John Perry on May 26th, 2023

Shares of Lennar Co. (NYSE:LEN – Get Rating) have been given an average rating of “Hold” by the sixteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $109.50.

Several equities research analysts have commented on LEN shares. StockNews.com started coverage on shares of Lennar in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. BTIG Research lifted their price target on shares of Lennar from $116.00 to $120.00 in a research report on Thursday, March 16th. Oppenheimer initiated coverage on Lennar in a research report on Wednesday, March 1st. They issued a “market perform” rating for the company. UBS Group increased their price target on Lennar from $117.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, March 16th. Finally, Citigroup increased their price target on Lennar from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st.

Lennar Trading Up 0.6 %

Lennar stock opened at $108.56 on Tuesday. The firm’s 50-day moving average is $108.36 and its 200-day moving average is $99.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 7.82. Lennar has a 1 year low of $62.54 and a 1 year high of $116.18. The company has a market cap of $31.42 billion, a P/E ratio of 6.73, a PEG ratio of 1.84 and a beta of 1.43.

Lennar (NYSE:LEN – Get Rating) last issued its quarterly earnings data on Wednesday, March 15th. The construction company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.56. Lennar had a return on equity of 21.18% and a net margin of 13.86%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts expect that Lennar will post 9.72 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, April 25th. This represents a $1.50 dividend on an annualized basis and a yield of 1.38%. Lennar’s dividend payout ratio (DPR) is presently 9.30%.

Insider Buying and Selling

In related news, CFO Diane J. Bessette sold 9,289 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total transaction of $958,253.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toroso Investments LLC lifted its stake in Lennar by 5.6% in the first quarter. Toroso Investments LLC now owns 7,869 shares of the construction company’s stock valued at $827,000 after buying an additional 414 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Lennar by 31.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,601 shares of the construction company’s stock valued at $1,219,000 after buying an additional 2,758 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Lennar by 29.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 8,787 shares of the construction company’s stock worth $922,000 after buying an additional 1,997 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in Lennar by 0.5% during the first quarter. Chevy Chase Trust Holdings LLC now owns 147,341 shares of the construction company’s stock worth $15,487,000 after acquiring an additional 678 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Lennar by 27.3% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 14,727 shares of the construction company’s stock worth $1,548,000 after acquiring an additional 3,159 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Lennar Company Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.