Lennar (NYSE:LEN) had its price target lifted by investment analysts at Wedbush from $54.00 to $60.00 in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the construction company’s stock. Wedbush’s target price points to a potential downside of 5.99% from the company’s previous close.
Several other brokerages have also recently issued reports on LEN. BTIG Research increased their target price on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. UBS Group started coverage on Lennar in a research report on Wednesday, October 25th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $64.00 target price on shares of Lennar in a research report on Monday, September 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Lennar in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $58.57.
Shares of Lennar (NYSE LEN) traded down $0.10 during midday trading on Friday, reaching $63.82. The company’s stock had a trading volume of 3,270,600 shares, compared to its average volume of 2,477,860. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The company has a market cap of $15,037.82, a PE ratio of 18.39, a PEG ratio of 1.30 and a beta of 1.35. Lennar has a 1-year low of $42.23 and a 1-year high of $64.42.
In other news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.18% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of LEN. Fishman Jay A Ltd. MI acquired a new stake in Lennar during the 3rd quarter worth about $1,771,000. Rational Advisors LLC acquired a new stake in Lennar during the 3rd quarter worth about $1,438,000. Victory Capital Management Inc. lifted its position in Lennar by 17.9% during the 2nd quarter. Victory Capital Management Inc. now owns 33,473 shares of the construction company’s stock worth $1,785,000 after acquiring an additional 5,083 shares during the period. Bank of Nova Scotia lifted its position in Lennar by 71.8% during the 2nd quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after acquiring an additional 33,388 shares during the period. Finally, Swiss National Bank lifted its position in Lennar by 2.8% during the 2nd quarter. Swiss National Bank now owns 741,000 shares of the construction company’s stock worth $39,510,000 after acquiring an additional 19,900 shares during the period. 81.25% of the stock is owned by hedge funds and other institutional investors.
About Lennar
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
