Lennar (NYSE:LEN) Price Target Lowered to $180.00 at Wells Fargo & Company

Lennar (NYSE:LEN) had its price objective reduced by Wells Fargo & Company from $190.00 to $180.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

A number of other brokerages have also issued reports on LEN. Barclays boosted their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank Of America (Bofa) increased their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Royal Bank of Canada raised their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $180.56.

Lennar Trading Up 0.7 %

Shares of Lennar stock traded up $1.17 on Thursday, hitting $172.58. The stock had a trading volume of 1,218,708 shares, compared to its average volume of 2,057,573. The firm has a market capitalization of $46.81 billion, a P/E ratio of 11.35, a PEG ratio of 1.62 and a beta of 1.62. Lennar has a twelve month low of $118.92 and a twelve month high of $193.80. The stock has a 50 day moving average of $180.77 and a 200 day moving average of $168.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.91 earnings per share. Sell-side analysts expect that Lennar will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Several hedge funds and other institutional investors have recently bought and sold shares of LEN. Prospera Private Wealth LLC bought a new stake in shares of Lennar in the 3rd quarter valued at approximately $131,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Lennar during the 3rd quarter valued at about $7,348,000. Fifth Third Wealth Advisors LLC boosted its stake in Lennar by 626.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 19,654 shares of the construction company’s stock valued at $3,685,000 after acquiring an additional 16,950 shares during the period. Smead Capital Management Inc. boosted its position in Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the period. Finally, LMR Partners LLP bought a new stake in Lennar in the 3rd quarter valued at about $4,797,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.