Lennar (NYSE:LEN) Price Target Raised to $118.00

by · The Cerbat Gem

Lennar (NYSE:LEN – Free Report) had its target price increased by JPMorgan Chase & Co. from $92.00 to $118.00 in a research note issued to investors on Tuesday morning,MarketScreener reports. They currently have a neutral rating on the construction company’s stock.

A number of other brokerages have also weighed in on LEN. Wells Fargo & Company decreased their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Evercore ISI decreased their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Wall Street Zen raised shares of Lennar from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Wedbush restated a “neutral” rating and issued a $130.00 price target on shares of Lennar in a report on Monday, September 22nd. Finally, JMP Securities increased their price objective on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $121.54.

Check Out Our Latest Report on Lennar

Lennar Trading Down 4.7%

Shares of LEN opened at $126.90 on Tuesday. The firm has a market capitalization of $32.36 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 5.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar has a 1-year low of $98.42 and a 1-year high of $169.00. The company has a 50-day moving average of $124.43 and a 200 day moving average of $120.73.

Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The company had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $3.90 earnings per share. On average, research analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s dividend payout ratio (DPR) is presently 19.76%.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after buying an additional 2,777,567 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Lennar during the 2nd quarter worth about $424,950,000. Viking Global Investors LP grew its stake in Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Finally, Brave Warrior Advisors LLC increased its holdings in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after purchasing an additional 415,218 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

About Lennar

(Get Free Report)

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.

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