Lennar (NYSE:LEN) Given New $114.00 Price Target at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its price objective cut by Keefe, Bruyette & Woods from $128.00 to $114.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market perform rating on the construction company’s stock.

Other analysts have also issued reports about the company. Zelman & Associates lowered Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Barclays reduced their target price on Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday. Evercore ISI reduced their target price on Lennar from $131.00 to $114.00 and set an “in-line” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada reduced their target price on Lennar from $122.00 to $98.00 and set a “sector perform” rating for the company in a report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.50.

Lennar Stock Performance

Shares of LEN opened at $106.36 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.68 and a current ratio of 3.65. The stock has a 50 day moving average price of $107.78 and a two-hundred day moving average price of $121.62. The firm has a market capitalization of $28.06 billion, a P/E ratio of 8.80, a P/E/G ratio of 2.82 and a beta of 1.33. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.45 earnings per share. Equities analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.88%. Lennar’s dividend payout ratio is currently 16.54%.

Institutional Investors Weigh In On Lennar

Several institutional investors have recently made changes to their positions in the stock. Howard Capital Management Inc. lifted its position in shares of Lennar by 0.3% during the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock worth $3,932,000 after acquiring an additional 81 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Lennar by 1.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock worth $886,000 after acquiring an additional 89 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Lennar by 1.4% during the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company’s stock worth $747,000 after acquiring an additional 93 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Lennar by 1.1% during the first quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company’s stock worth $1,015,000 after acquiring an additional 95 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its position in shares of Lennar by 3.1% during the fourth quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company’s stock worth $436,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors 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.