Lennar (NYSE:LEN) Price Target Raised to $161.00 at BTIG Research

Lennar (NYSE:LEN) had its price target boosted by BTIG Research from $148.00 to $161.00 in a research report released on Monday, Marketbeat Ratings reports. The firm currently has a buy rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities increased their price objective on shares of Lennar from $115.00 to $135.00 in a research note on Friday, June 16th. Bank of America boosted their price target on shares of Lennar from $103.00 to $120.00 in a research report on Wednesday, June 14th. Wedbush reiterated a neutral rating and set a $123.00 price objective on shares of Lennar in a research report on Monday, September 11th. Keefe, Bruyette & Woods upped their price target on shares of Lennar from $130.00 to $145.00 in a report on Friday, June 16th. Finally, StockNews.com initiated coverage on shares of Lennar in a research note on Thursday, August 17th. They issued a hold rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has an average rating of Hold and a consensus target price of $130.94.

Lennar Trading Up 2.0 %

LEN 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 stock has a market cap of $33.64 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48. The company has a fifty day moving average of $122.48 and a 200-day moving average of $114.64. Lennar has a twelve month low of $69.90 and a twelve month high of $133.24.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Friday, September 15th. The construction company reported $3.91 EPS for the quarter, topping the consensus estimate of $3.52 by $0.39. Lennar had a net margin of 11.66% and a return on equity of 16.41%. The business had revenue of $8.73 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the firm posted $5.18 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that Lennar will post 12.65 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed 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 was Thursday, July 6th. This represents a $1.50 annualized dividend and a dividend yield of 1.28%. Lennar’s dividend payout ratio is currently 11.12%.

Insiders Place Their Bets

In related news, Director Amy Banse bought 790 shares of the stock in a transaction dated Friday, July 21st. The stock was acquired at an average price of $126.42 per share, for a total transaction of $99,871.80. Following the completion of the purchase, the director now owns 7,293 shares in the company, valued at $921,981.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Amy Banse bought 790 shares of Lennar stock in a transaction on Friday, July 21st. The shares were bought at an average price of $126.42 per share, with a total value of $99,871.80. Following the acquisition, the director now directly owns 7,293 shares in the company, valued at approximately $921,981.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Diane J. Bessette sold 10,790 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total value of $1,310,553.40. Following the transaction, the chief financial officer now directly owns 270,556 shares in the company, valued at approximately $32,861,731.76. The disclosure for this sale can be found here. Insiders bought 2,634 shares of company stock worth $321,855 over the last three months. 9.53% of the stock is owned by insiders.

Institutional Trading of Lennar

Several hedge funds have recently added to or reduced their stakes in the business. Close Asset Management Ltd acquired a new position in shares of Lennar in the 1st quarter worth $37,000. MV Capital Management Inc. boosted its position in shares of Lennar by 47.0% in the first quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock worth $42,000 after buying an additional 127 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of Lennar in the second quarter worth $46,000. West Tower Group LLC acquired a new stake in shares of Lennar in the second quarter worth $57,000. Finally, FNY Investment Advisers LLC acquired a new stake in Lennar during the second quarter valued at $61,000. Institutional investors own 79.87% of the company’s stock.

About Lennar

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.