JPMorgan Chase & Co. Increases Lennar (NYSE:LEN) Price Target to $173.00

Lennar (NYSE:LEN) had its price objective hoisted by JPMorgan Chase & Co. from $154.00 to $173.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

A number of other equities analysts have also recently commented on the stock. Zelman & Associates raised shares of Lennar from a neutral rating to an outperform rating in a research note on Monday. Keefe, Bruyette & Woods increased their target price on Lennar from $183.00 to $230.00 and gave the company an outperform rating in a research note on Wednesday, September 4th. StockNews.com raised Lennar from a hold rating to a buy rating in a research note on Friday, September 20th. Wedbush reiterated a neutral rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Finally, The Goldman Sachs Group downgraded Lennar from a buy rating to a neutral rating and dropped their target price for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $181.94.

Lennar Stock Up 0.7 %

LEN opened at $183.13 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a one year low of $102.90 and a one year high of $193.80. The firm has a market capitalization of $50.29 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The company has a fifty day moving average price of $177.67 and a 200-day moving average price of $164.42.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the prior year, the company earned $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Lennar will post 14.13 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. Lennar’s dividend payout ratio is presently 13.60%.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC raised its holdings in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Lennar during the 1st quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in Lennar in the 1st quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar during the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC increased its position in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

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.