Lennar (NYSE:LEN) Reaches New 1-Year Low – Here’s What Happened

Lennar Co. (NYSE:LEN) reached a new 52-week low on Saturday . The stock traded as low as $111.26 and last traded at $115.09, with a volume of 12340777 shares changing hands. The stock had previously closed at $120.07.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of analyst reports. Barclays lowered their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. UBS Group decreased their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Fourteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus price target of $164.53.

Lennar Stock Performance

The firm has a 50 day moving average price of $126.09 and a 200 day moving average price of $153.13. The stock has a market cap of $30.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the business posted $2.57 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Lennar Co. 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, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.74%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Centaurus Financial Inc. grew its stake in Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after purchasing an additional 71 shares during the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after acquiring an additional 79 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Lennar by 0.3% in the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after acquiring an additional 81 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its holdings in Lennar by 2.1% in the fourth quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after purchasing an additional 87 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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.