Lennar (NYSE:LEN) Price Target Lowered to $114.00 at Evercore ISI

Lennar (NYSE:LEN) had its price objective trimmed by Evercore ISI from $131.00 to $114.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an in-line rating on the construction company’s stock.

A number of other research firms also recently issued reports on LEN. UBS Group reduced their price objective on Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research note on Tuesday, March 25th. Finally, Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Sixteen research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.50.

Lennar Price Performance

LEN stock opened at $106.36 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.68 and a current ratio of 3.65. The company’s fifty day moving average price is $107.78 and its 200-day moving average price is $121.62. Lennar has a one year low of $98.42 and a one year high of $187.61. The company has a market capitalization of $28.06 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same period last year, the company earned $3.45 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar’s payout ratio is currently 16.54%.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Lennar by 1.3% in the 4th quarter. Sanctuary Advisors LLC now owns 43,609 shares of the construction company’s stock valued at $5,898,000 after buying an additional 560 shares during the period. CIBC Asset Management Inc grew its stake in Lennar by 3.5% in the 4th quarter. CIBC Asset Management Inc now owns 37,007 shares of the construction company’s stock worth $5,047,000 after acquiring an additional 1,263 shares in the last quarter. Kestra Investment Management LLC bought a new position in Lennar in the 4th quarter worth about $49,000. Finally, Lyell Wealth Management LP increased its position in shares of Lennar by 5.8% during the fourth quarter. Lyell Wealth Management LP now owns 83,161 shares of the construction company’s stock worth $11,341,000 after acquiring an additional 4,538 shares during the period. Hedge funds and other 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.