Brokerages Set Lennar Co. (NYSE:LEN) Price Target at $150.07

Shares of Lennar Co. (NYSE:LEN) have earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $150.07.

LEN has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Barclays lowered their price objective on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. 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 reduced their price target on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a report on Tuesday, March 25th. Finally, Royal Bank of Canada reduced their price target on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a report on Monday, March 24th.

Lennar Stock Performance

Shares of NYSE:LEN opened at $108.52 on Wednesday. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $107.85 and a two-hundred day simple moving average of $123.98. The stock has a market capitalization of $28.63 billion, a P/E ratio of 7.57, a PEG ratio of 1.24 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period in the previous year, the company earned $2.57 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Wednesday, April 23rd. Lennar’s dividend payout ratio is currently 14.57%.

Hedge Funds Weigh In On Lennar

Several large investors have recently made changes to their positions in LEN. Brighton Jones LLC lifted its stake in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after purchasing an additional 377 shares during the period. Kestra Private Wealth Services LLC raised its position in Lennar by 6.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,239 shares of the construction company’s stock worth $442,000 after acquiring an additional 189 shares during the period. Sapient Capital LLC raised its position in Lennar by 1.2% during the fourth quarter. Sapient Capital LLC now owns 108,084 shares of the construction company’s stock worth $14,739,000 after acquiring an additional 1,261 shares during the period. Sovran Advisors LLC acquired a new position in Lennar during the fourth quarter worth $409,000. Finally, ABC Arbitrage SA acquired a new position in Lennar during the fourth quarter worth $3,701,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.