Lennar (NYSE:LEN) Given Neutral Rating at Wedbush

Wedbush reissued their neutral rating on shares of Lennar (NYSE:LEN) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $130.00 target price on the construction company’s stock.

LEN has been the subject of several other reports. Zelman & Associates restated a “neutral” rating on shares of Lennar in a research note on Wednesday. The Goldman Sachs Group dropped their price target on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their price target on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research note on Tuesday, March 25th. Barclays dropped their price target on Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, UBS Group dropped their price target on Lennar from $164.00 to $146.00 and set a “buy” rating for the company in a research note on Wednesday. Sixteen investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $141.60.

Lennar Stock Performance

Lennar stock opened at $103.37 on Wednesday. The firm has a market capitalization of $27.27 billion, a P/E ratio of 8.55, a PEG ratio of 2.85 and a beta of 1.33. The stock has a fifty day moving average price of $107.79 and a 200 day moving average price of $122.57. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a current ratio of 3.65, a quick ratio of 0.68 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN) last released its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.45 earnings per share. Equities research analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Lennar’s dividend payout ratio (DPR) is currently 16.54%.

Institutional Investors Weigh In On Lennar

Large investors have recently modified their holdings of the stock. Hurley Capital LLC purchased a new position in Lennar in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in Lennar in the fourth quarter valued at about $28,000. Ameriflex Group Inc. purchased a new position in Lennar in the fourth quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Lennar in the first quarter valued at about $30,000. Finally, NBC Securities Inc. purchased a new position in Lennar in the first quarter valued at about $33,000. Institutional investors and hedge funds 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.