Lennar (NYSE:LEN) PT Raised to $195.00

Lennar (NYSE:LEN) had its target price raised by Wells Fargo & Company from $185.00 to $195.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group cut Lennar from a buy rating to a neutral rating and dropped their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Royal Bank of Canada restated an underperform rating and issued a $145.00 price objective on shares of Lennar in a report on Thursday, June 20th. JMP Securities reaffirmed a market outperform rating and set a $170.00 target price on shares of Lennar in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price target on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. Finally, StockNews.com upgraded Lennar from a hold rating to a buy rating in a report on Sunday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Lennar has an average rating of Hold and a consensus target price of $169.13.

Lennar Price Performance

Shares of LEN stock traded up $1.61 during trading hours on Monday, reaching $172.00. 1,901,450 shares of the company were exchanged, compared to its average volume of 2,163,484. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The company has a market cap of $47.23 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.60 and a beta of 1.60. The stock’s fifty day moving average is $158.20 and its two-hundred day moving average is $157.94. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $182.53.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Sell-side analysts forecast that Lennar will post 14.16 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.16%. Lennar’s payout ratio is presently 13.60%.

Insider Activity at Lennar

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock valued at $4,841,039. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LEN. Rise Advisors LLC raised its stake in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Lennar in the first quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar during the 1st quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar during the 1st quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its stake in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

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.