Wells Fargo & Company Boosts Lennar (NYSE:LEN) Price Target to $205.00

Lennar (NYSE:LEN) had its target price increased by Wells Fargo & Company from $195.00 to $205.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other equities analysts also recently weighed in on LEN. JMP Securities reaffirmed a market outperform rating and issued a $170.00 target price on shares of Lennar in a research note on Thursday, June 20th. StockNews.com downgraded Lennar from a buy rating to a hold rating in a report on Monday, August 12th. Citigroup reissued a neutral rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Evercore ISI upped their price target on Lennar from $237.00 to $240.00 and gave the company an outperform rating in a research note on Monday, July 15th. Finally, Raymond James lowered Lennar from an outperform rating to a market perform rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $172.69.

Lennar Stock Down 1.1 %

Shares of LEN opened at $178.19 on Monday. The business’s 50 day simple moving average is $171.04 and its 200-day simple moving average is $162.55. Lennar has a one year low of $102.90 and a one year high of $186.60. The company has a market capitalization of $48.93 billion, a P/E ratio of 12.11, a PEG ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. As a group, sell-side analysts predict that Lennar will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. Lennar’s payout ratio is 13.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LEN. Gilbert & Cook Inc. lifted its position in Lennar by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after acquiring an additional 211 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Lennar in the fourth quarter valued at about $69,000. Private Advisor Group LLC boosted its position in shares of Lennar by 1.2% during the fourth quarter. Private Advisor Group LLC now owns 8,366 shares of the construction company’s stock worth $1,247,000 after buying an additional 97 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Lennar by 89.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,652 shares of the construction company’s stock worth $246,000 after buying an additional 781 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Lennar by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after buying an additional 70 shares during the last quarter. Institutional investors own 81.10% 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.