Lennar (NYSE:LEN) Given New $150.00 Price Target at Citigroup

Lennar (NYSE:LEN) had its target price lowered by Citigroup from $196.00 to $150.00 in a research report report published on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

LEN has been the subject of several other reports. JMP Securities increased their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Royal Bank of Canada decreased their target price on Lennar from $160.00 to $130.00 and set an “underperform” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, UBS Group cut their price target on shares of Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Lennar presently has an average rating of “Hold” and an average price target of $171.50.

Lennar Trading Up 0.3 %

Shares of NYSE:LEN opened at $133.52 on Monday. Lennar has a twelve month low of $130.91 and a twelve month high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a market cap of $36.22 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.28 and a beta of 1.66. The company has a 50 day moving average of $157.96 and a 200-day moving average of $167.93.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the prior year, the firm posted $4.82 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, analysts anticipate that Lennar will post 14.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. One Wealth Capital Management LLC bought a new position in Lennar during the fourth quarter valued at about $246,000. Nordea Investment Management AB grew its stake in shares of Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the period. Oddo BHF Asset Management Sas bought a new position in shares of Lennar during the 3rd quarter worth approximately $2,543,000. Synovus Financial Corp boosted its stake in Lennar by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock valued at $8,877,000 after buying an additional 627 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Lennar in the third quarter valued at $241,000. Institutional investors own 81.10% of the company’s stock.

About Lennar

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.