Lennar’s (LEN) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Lennar (NYSE:LEN) in a report published on Thursday, MarketBeat Ratings reports. Wedbush currently has a $164.00 target price on the construction company’s stock.

LEN has been the topic of a number of other reports. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their price objective on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company reduced their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average price target of $183.76.

Lennar Price Performance

LEN opened at $154.39 on Thursday. Lennar has a 1 year low of $140.65 and a 1 year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company’s 50 day simple moving average is $172.46 and its 200 day simple moving average is $169.96. The stock has a market capitalization of $41.88 billion, a PE ratio of 10.22, a P/E/G ratio of 1.31 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.91 EPS. As a group, sell-side analysts expect that Lennar will post 14.11 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. Lennar’s dividend payout ratio (DPR) is 13.25%.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following 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 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.36% of the stock is currently owned by insiders.

Institutional Trading of Lennar

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after buying an additional 149,812 shares during the period. Smead Capital Management Inc. boosted its stake in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Lennar by 101.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 4,363 shares during the period. Asset Management One Co. Ltd. boosted its position in Lennar by 8.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock valued at $19,022,000 after purchasing an additional 8,092 shares during the period. Finally, Soditic Asset Management LLP grew its stake in Lennar by 143.1% during the 3rd quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock worth $5,491,000 after buying an additional 17,240 shares during the last quarter. 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.