Lennar (NYSE:LEN) Price Target Cut to $130.00 by Analysts at Royal Bank of Canada

Lennar (NYSE:LEN) had its price objective cut by Royal Bank of Canada from $160.00 to $130.00 in a report issued on Friday,Benzinga reports. They currently have an underperform rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a research note on Thursday. Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Barclays reduced their target price on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Citigroup lifted their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus price target of $175.94.

Lennar Stock Down 0.2 %

LEN stock opened at $138.08 on Friday. The company has a 50-day moving average of $168.98 and a two-hundred day moving average of $169.43. The stock has a market capitalization of $37.45 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter last year, the business earned $4.82 EPS. Lennar’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Lennar will post 14.11 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.95%.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new stake in shares of Lennar during the 3rd quarter worth approximately $2,543,000. Synovus Financial Corp lifted its holdings in Lennar by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock valued at $8,877,000 after purchasing an additional 627 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Lennar in the 3rd quarter valued at about $241,000. World Investment Advisors LLC acquired a new position in Lennar during the third quarter worth $251,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Lennar by 9.4% in the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock valued at $8,071,000 after purchasing an additional 3,712 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.