Lennar (NYSE:LEN) Price Target Cut to $205.00 by Analysts at UBS Group

Lennar (NYSE:LEN) had its price target lowered by UBS Group from $225.00 to $205.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

LEN has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Citigroup lifted their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Evercore ISI decreased their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $175.94.

Lennar Stock Performance

Shares of NYSE:LEN opened at $138.08 on Friday. The company has a market capitalization of $37.45 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. The firm’s 50 day simple moving average is $168.98 and its 200 day simple moving average is $169.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a fifty-two week low of $135.21 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the firm earned $4.82 EPS. As a group, sell-side analysts forecast that Lennar will post 14.11 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Moors & Cabot Inc. raised its holdings in Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after acquiring an additional 66 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after acquiring an additional 71 shares during the period. Quotient Wealth Partners LLC boosted its position in shares of Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after acquiring an additional 74 shares in the last quarter. Commerce Bank raised its position in Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after purchasing an additional 74 shares in the last quarter. Finally, Jupiter Wealth Management LLC boosted its holdings in shares of Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after purchasing an additional 75 shares in the last quarter. 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.