Lennar (NYSE:LEN) Price Target Increased to $135.00 by Analysts at Barclays

Posted by Defense World Staff on May 25th, 2023

Lennar (NYSE:LEN – Get Rating) had its price objective hoisted by Barclays from $120.00 to $135.00 in a report released on Wednesday, The Fly reports.

A number of other analysts also recently weighed in on LEN. Oppenheimer initiated coverage on Lennar in a report on Wednesday, March 1st. They set a market perform rating for the company. BTIG Research increased their price target on Lennar from $116.00 to $120.00 in a report on Thursday, March 16th. UBS Group increased their price target on Lennar from $117.00 to $127.00 and gave the stock a buy rating in a report on Thursday, March 16th. Citigroup increased their price target on Lennar from $113.00 to $123.00 and gave the stock a buy rating in a report on Tuesday, March 21st. Finally, JMP Securities reiterated a market outperform rating and set a $115.00 price target on shares of Lennar in a report on Thursday, March 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $106.57.

Lennar Stock Performance

NYSE LEN opened at $107.90 on Wednesday. The company has a market capitalization of $31.23 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 1.90 and a beta of 1.43. Lennar has a twelve month low of $62.54 and a twelve month high of $116.18. The stock has a fifty day simple moving average of $108.27 and a 200 day simple moving average of $98.97. The company has a quick ratio of 1.38, a current ratio of 7.82 and a debt-to-equity ratio of 0.16.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The construction company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.56. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $5.99 billion. Lennar had a return on equity of 21.18% and a net margin of 13.86%. Lennar’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. Sell-side analysts expect that Lennar will post 9.72 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, April 25th. This represents a $1.50 annualized dividend and a yield of 1.39%. Lennar’s payout ratio is 9.30%.

Insider Activity at Lennar

In other Lennar news, CFO Diane J. Bessette sold 9,289 shares of Lennar stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total transaction of $958,253.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Lennar

Hedge funds have recently modified their holdings of the company. Close Asset Management Ltd bought a new position in shares of Lennar during the 1st quarter worth approximately $37,000. Heritage Wealth Advisors bought a new position in shares of Lennar during the 4th quarter worth approximately $39,000. MV Capital Management Inc. raised its holdings in shares of Lennar by 47.0% in the 1st quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock worth $42,000 after purchasing an additional 127 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Lennar in the 3rd quarter worth approximately $45,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Lennar by 96.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the construction company’s stock worth $46,000 after purchasing an additional 250 shares during the period. Institutional investors own 82.68% of the company’s stock.

Lennar Company Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.