Wells Fargo & Company Cuts Lennar (NYSE:LEN) Price Target to $125.00

Lennar (NYSE:LEN) had its target price reduced by Wells Fargo & Company from $135.00 to $125.00 in a report published on Friday morning,MarketScreener reports. They currently have an equal weight rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada raised their price objective on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. UBS Group increased their target price on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Zelman & Associates lowered Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price on Lennar from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Friday, June 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $130.00 target price on shares of Lennar in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and an average price target of $121.75.

Lennar Stock Up 0.8%

Lennar stock opened at $118.85 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The firm has a market capitalization of $30.31 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 5.32 and a beta of 1.37. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The stock’s fifty day moving average is $129.36 and its two-hundred day moving average is $116.46.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the business earned $3.90 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Analysts predict that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Lennar’s dividend payout ratio (DPR) is 19.76%.

Institutional Trading of Lennar

Hedge funds have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in shares of Lennar in the 2nd quarter worth $33,000. Rexford Capital Inc. bought a new stake in shares of Lennar in the 2nd quarter worth $36,000. Disciplina Capital Management LLC raised its stake in shares of Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after buying an additional 214 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. 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.