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

Lennar (NYSE:LEN) had its price objective decreased by Barclays from $181.00 to $135.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

A number of other analysts have also commented on LEN. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Bank of America raised their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $175.94.

Lennar Stock Down 0.2 %

Shares of LEN opened at $138.08 on Friday. The firm has a market capitalization of $37.45 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. 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 has a 52 week low of $135.21 and a 52 week high of $193.80. The company has a 50-day simple moving average of $168.98 and a 200-day simple moving average of $169.43.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.82 earnings per share. On average, equities research analysts expect that Lennar will post 14.11 earnings per share for the current year.

Lennar Dividend Announcement

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

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated Monday, October 28th. The stock was 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 owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Several institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas purchased a new stake in Lennar in the 3rd quarter valued at about $2,543,000. Synovus Financial Corp raised its holdings in shares of Lennar by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock valued at $8,877,000 after purchasing an additional 627 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Lennar in the third quarter valued at approximately $241,000. World Investment Advisors LLC acquired a new position in Lennar in the third quarter valued at $251,000. Finally, Sanctuary Advisors LLC increased its position in Lennar by 9.4% during the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock worth $8,071,000 after buying an additional 3,712 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.