Lennar (NYSE:LEN) Price Target Lowered to $100.00 at Wells Fargo & Company

Lennar (NYSE:LEN) had its price objective cut by Wells Fargo & Company from $105.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

A number of other research firms have also recently issued reports on LEN. Keefe, Bruyette & Woods lowered their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, December 18th. UBS Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $137.00 to $122.00 in a research note on Tuesday, January 6th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a report on Friday, January 9th. BTIG Research set a $90.00 price objective on shares of Lennar in a research note on Thursday, December 18th. Finally, Citigroup decreased their target price on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. 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. According to MarketBeat, Lennar presently has a consensus rating of “Reduce” and a consensus price target of $103.43.

Lennar Price Performance

Shares of Lennar stock opened at $96.01 on Monday. The firm has a fifty day moving average price of $112.33 and a two-hundred day moving average price of $119.27. Lennar has a fifty-two week low of $92.17 and a fifty-two week high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The company 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.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is presently 28.74%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Viking Global Investors LP lifted its holdings in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after buying an additional 1,172,068 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Lennar by 90.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock valued at $201,835,000 after purchasing an additional 934,856 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Lennar in the 4th quarter valued at $95,941,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of 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 purchasing an additional 603,004 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Lennar by 1,303.1% in the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after acquiring an additional 455,174 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Company Profile

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.