Lennar Corporation (NYSE:LEN) Given Consensus Recommendation of “Reduce” by Brokerages

Lennar Corporation (NYSE:LEN) has been assigned a consensus recommendation of “Reduce” from the eighteen brokerages that are covering the stock, MarketBeat reports. Ten analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $92.80.

Several research firms recently weighed in on LEN. Truist Financial cut their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. Bank of America cut their price target on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research note on Friday, June 12th. Barclays reduced their price target on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a report on Monday, June 15th. Finally, Royal Bank Of Canada lowered their price objective on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, June 15th.

Hedge Funds Weigh In On Lennar

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in Lennar by 19.7% in the first quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after purchasing an additional 419,745 shares during the period. Viking Global Investors LP grew its position in shares of Lennar by 86.7% in the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after buying an additional 1,172,068 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Lennar by 90.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock valued at $201,835,000 after buying an additional 934,856 shares during the period. Freestone Grove Partners LP bought a new position in shares of Lennar during the fourth quarter worth about $95,941,000. Finally, Swiss National Bank raised its position in shares of Lennar by 4.8% during the first quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock worth $52,231,000 after acquiring an additional 27,500 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

LEN stock opened at $85.44 on Thursday. The company has a 50 day simple moving average of $88.35 and a 200 day simple moving average of $98.09. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 2.78 and a beta of 1.38. Lennar has a 1 year low of $81.18 and a 1 year high of $144.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.81 earnings per share. Research analysts anticipate that Lennar will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, July 10th. Lennar’s dividend payout ratio is 31.30%.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.