Lennar (NYSE:LEN) Price Target Raised to $114.00 at Royal Bank of Canada

Lennar (NYSE:LEN) had its price objective boosted by Royal Bank of Canada from $113.00 to $114.00 in a research report sent to investors on Monday, Marketbeat.com reports. They currently have an underperform rating on the construction company’s stock.

LEN has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on Lennar from $130.00 to $145.00 in a report on Friday, June 16th. Barclays upped their target price on Lennar from $120.00 to $135.00 in a report on Wednesday, May 24th. StockNews.com initiated coverage on Lennar in a research note on Thursday, August 17th. They issued a hold rating on the stock. UBS Group upped their price target on Lennar from $127.00 to $150.00 in a research note on Friday, June 16th. Finally, Bank of America upped their price objective on Lennar from $103.00 to $120.00 in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of Hold and an average price target of $130.94.

Lennar Trading Up 2.0 %

Shares of LEN stock opened at $117.03 on Monday. The company has a quick ratio of 1.25, a current ratio of 7.09 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $122.48 and a two-hundred day moving average price of $114.64. Lennar has a 12-month low of $69.90 and a 12-month high of $133.24. The firm has a market cap of $33.64 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48.

Lennar (NYSE:LEN) last released its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.39. The company had revenue of $8.73 billion during the quarter, compared to analyst estimates of $8.49 billion. Lennar had a return on equity of 16.41% and a net margin of 11.66%. Lennar’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.18 EPS. Equities analysts anticipate that Lennar will post 12.65 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.28%. Lennar’s payout ratio is currently 11.12%.

Insider Buying and Selling

In related news, CFO Diane J. Bessette sold 10,790 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total value of $1,310,553.40. Following the sale, the chief financial officer now owns 270,556 shares of the company’s stock, valued at approximately $32,861,731.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Diane J. Bessette sold 10,790 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the transaction, the chief financial officer now directly owns 270,556 shares of the company’s stock, valued at $32,861,731.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $126.48, for a total value of $1,264,800.00. Following the sale, the executive vice president now owns 141,386 shares of the company’s stock, valued at approximately $17,882,501.28. The disclosure for this sale can be found here. Insiders have bought a total of 2,634 shares of company stock valued at $321,855 in the last quarter. Company insiders own 9.53% of the company’s stock.

Institutional Trading of Lennar

A number of hedge funds and other institutional investors have recently made changes to their positions in LEN. First Trust Advisors LP increased its stake in shares of Lennar by 551.1% in the first quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock valued at $191,793,000 after buying an additional 1,544,432 shares in the last quarter. Pacer Advisors Inc. increased its position in Lennar by 111.4% in the first quarter. Pacer Advisors Inc. now owns 2,467,501 shares of the construction company’s stock worth $259,359,000 after purchasing an additional 1,300,163 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in Lennar by 75,322.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 935,987 shares of the construction company’s stock worth $117,288,000 after purchasing an additional 934,746 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Lennar in the first quarter worth about $61,173,000. Finally, Duquesne Family Office LLC acquired a new stake in Lennar in the fourth quarter worth about $39,991,000. 79.87% of the stock is currently 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.