Lennar (NYSE:LEN) Price Target Lowered to $165.00 at Wells Fargo & Company

Lennar (NYSE:LEN) had its price target lowered by Wells Fargo & Company from $180.00 to $165.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on LEN. JMP Securities upped their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Wedbush reiterated a “neutral” rating and set a $164.00 target price on shares of Lennar in a research note on Thursday, December 12th. Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.88.

Lennar Stock Performance

LEN opened at $151.52 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The business’s 50-day simple moving average is $171.26 and its 200 day simple moving average is $169.97. The firm has a market capitalization of $41.10 billion, a PE ratio of 10.03, a PEG ratio of 1.31 and a beta of 1.61. Lennar has a 52-week low of $140.65 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the firm posted $3.91 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Lennar will post 14.11 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Lennar’s payout ratio is 13.25%.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after purchasing an additional 149,812 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Lennar by 101.2% in the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after acquiring an additional 4,363 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Lennar by 8.7% in the third quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after acquiring an additional 8,092 shares during the last quarter. Finally, Soditic Asset Management LLP boosted its stake in shares of Lennar by 143.1% in the 3rd quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 17,240 shares in the last quarter. 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.