BTIG Research Increases Lennar (NYSE:LEN) Price Target to $161.00

Lennar (NYSE:LEN) had its price target boosted by BTIG Research from $148.00 to $161.00 in a research note published on Monday, Marketbeat.com reports. The firm currently has a buy rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their price objective on shares of Lennar from $141.00 to $142.00 and gave the company a buy rating in a report on Wednesday, August 30th. Barclays increased their price target on shares of Lennar from $120.00 to $135.00 in a research report on Wednesday, May 24th. JMP Securities raised their price objective on shares of Lennar from $115.00 to $135.00 in a report on Friday, June 16th. StockNews.com initiated coverage on shares of Lennar in a research report on Thursday, August 17th. They set a hold rating on the stock. Finally, Wedbush reiterated a neutral rating and issued a $123.00 price objective on shares of Lennar in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $130.94.

Lennar Stock Performance

NYSE:LEN opened at $117.03 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09. The company has a fifty day moving average of $122.48 and a two-hundred day moving average of $114.64. The stock has a market capitalization of $33.64 billion, a PE ratio of 8.68, a P/E/G ratio of 1.55 and a beta of 1.48. Lennar has a fifty-two week low of $69.90 and a fifty-two week high of $133.24.

Lennar (NYSE:LEN) last released its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.39. Lennar had a net margin of 11.66% and a return on equity of 16.41%. The business had revenue of $8.73 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the firm earned $5.18 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Lennar will post 12.65 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s payout ratio is 11.12%.

Insider Buying and Selling at Lennar

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $126.48, for a total value of $1,264,800.00. Following the completion of the sale, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $126.48, for a total value of $1,264,800.00. Following the completion of the transaction, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse bought 859 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the completion of the transaction, the director now owns 8,972 shares in the company, valued at $1,055,555.80. The disclosure for this purchase can be found here. Insiders acquired 2,634 shares of company stock worth $321,855 in the last 90 days. 9.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lennar

Several hedge funds have recently bought and sold shares of the business. Sanders Capital LLC increased its holdings in shares of Lennar by 3.5% during the 1st quarter. Sanders Capital LLC now owns 3,067,185 shares of the construction company’s stock valued at $322,392,000 after acquiring an additional 102,601 shares during the last quarter. Smead Capital Management Inc. increased its holdings in shares of Lennar by 3.2% during the 1st quarter. Smead Capital Management Inc. now owns 3,057,384 shares of the construction company’s stock valued at $321,362,000 after acquiring an additional 94,694 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Lennar by 111.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,467,501 shares of the construction company’s stock valued at $259,359,000 after acquiring an additional 1,300,163 shares during the last quarter. First Trust Advisors LP grew its holdings in Lennar by 551.1% in the 1st quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock valued at $191,793,000 after buying an additional 1,544,432 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Lennar by 10.9% in the 2nd quarter. Nordea Investment Management AB now owns 1,598,433 shares of the construction company’s stock worth $198,797,000 after buying an additional 156,691 shares during the period. 79.87% of the stock is owned by hedge funds and other 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.