Bank of America Cuts Lennar (NYSE:LEN) Price Target to $130.00

Lennar (NYSE:LEN) had its price target trimmed by Bank of America from $140.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods cut shares of Lennar from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $152.00 to $141.00 in a research note on Tuesday, March 11th. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. UBS Group decreased their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Fourteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.53.

Lennar Trading Down 0.3 %

Shares of LEN stock opened at $119.90 on Tuesday. The stock has a market capitalization of $31.84 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.24 and a beta of 1.69. The company’s fifty day simple moving average is $126.38 and its two-hundred day simple moving average is $153.95. Lennar has a 1 year low of $115.61 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period in the previous year, the company posted $2.57 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.67%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. Wealth Enhancement Advisory Services LLC grew its position in Lennar by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 204,431 shares of the construction company’s stock worth $27,878,000 after acquiring an additional 1,515 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Lennar by 7.2% in the fourth quarter. Centaurus Financial Inc. now owns 3,149 shares of the construction company’s stock worth $429,000 after purchasing an additional 212 shares during the last quarter. Cim LLC increased its stake in shares of Lennar by 0.7% in the fourth quarter. Cim LLC now owns 29,702 shares of the construction company’s stock worth $4,050,000 after buying an additional 212 shares during the period. Park Square Financial Group LLC bought a new stake in Lennar during the 4th quarter valued at $47,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Lennar in the 4th quarter worth $17,586,000. 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.