Lennar (NYSE:LEN) Price Target Lowered to $90.00 at Truist Financial

Lennar (NYSE:LEN) had its target price decreased by Truist Financial from $95.00 to $90.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the construction company’s stock.

A number of other equities research analysts have also commented on the stock. Citizens Jmp reiterated a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Barclays cut their price target on shares of Lennar from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, March 16th. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings lowered shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Finally, Keefe, Bruyette & Woods reduced their price target on Lennar from $115.00 to $105.00 and set a “market perform” rating on the stock in a report on Wednesday, March 18th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $101.71.

Lennar Trading Up 2.3%

Shares of LEN stock opened at $86.80 on Tuesday. The business has a 50-day moving average of $106.87 and a 200 day moving average of $115.74. 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 has a 1-year low of $84.38 and a 1-year high of $144.24. The stock has a market capitalization of $21.44 billion, a PE ratio of 12.47, a P/E/G ratio of 1.80 and a beta of 1.43.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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). The company 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 business’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 anticipate that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s dividend payout ratio is 28.74%.

Hedge Funds Weigh In On Lennar

Several hedge funds and other institutional investors have recently modified their holdings of LEN. World Investment Advisors boosted its position in Lennar by 40.7% during the 4th quarter. World Investment Advisors now owns 2,423 shares of the construction company’s stock valued at $249,000 after acquiring an additional 701 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Lennar by 3.6% in the 4th quarter. Corient Private Wealth LLC now owns 68,662 shares of the construction company’s stock worth $7,058,000 after acquiring an additional 2,381 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Lennar in the 4th quarter valued at approximately $244,000. Instrumental Wealth LLC bought a new stake in shares of Lennar during the fourth quarter valued at approximately $307,000. Finally, River Road Asset Management LLC grew its stake in Lennar by 10.3% in the fourth quarter. River Road Asset Management LLC now owns 461,696 shares of the construction company’s stock worth $47,462,000 after purchasing an additional 43,186 shares during the period. Hedge funds and other 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.