Lennar (NYSE:LEN) Given New $95.00 Price Target at Truist Financial

Lennar (NYSE:LEN) had its price objective cut by Truist Financial from $110.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the construction company’s stock.

LEN has been the subject of a number of other reports. UBS Group cut Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. Bank of America reissued an “underperform” rating and set a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Barclays dropped their target price on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Evercore lowered shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $114.00 to $92.00 in a research report on Thursday, December 18th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $103.43.

Lennar Stock Up 1.1%

NYSE LEN opened at $96.01 on Monday. The stock’s 50 day simple moving average is $112.33 and its 200 day simple moving average is $119.27. Lennar has a one year low of $92.17 and a one year high of $144.24. The firm has a market cap of $23.71 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, sell-side analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s payout ratio is currently 28.74%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its stake in shares of Lennar by 73.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after acquiring an additional 4,548 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in Lennar during the 2nd quarter worth approximately $441,000. Employees Retirement System of Texas acquired a new position in Lennar during the second quarter valued at approximately $215,000. Cibc World Market Inc. increased its stake in Lennar by 993.0% in the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Lennar by 4.3% in the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after purchasing an additional 29,300 shares during the period. Institutional investors own 81.10% of the company’s stock.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.