Lennar’s (LEN) In-Line Rating Reiterated at Evercore ISI

Evercore ISI reissued their in-line rating on shares of Lennar (NYSE:LEN) in a report released on Monday, Marketbeat Ratings reports. Evercore ISI currently has a $131.00 price objective on the construction company’s stock, down from their prior price objective of $159.00.

A number of other analysts have also issued reports on LEN. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Citigroup dropped their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America reduced their price target on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, UBS Group decreased their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $151.07.

Lennar Trading Up 0.1 %

Shares of LEN stock opened at $117.90 on Monday. Lennar has a 12 month low of $111.26 and a 12 month high of $187.61. The company has a market cap of $31.31 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $125.06 and its two-hundred day moving average is $152.03.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. Equities analysts predict that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

Hedge Funds Weigh In On Lennar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Lennar in the fourth quarter valued at approximately $218,533,000. Holocene Advisors LP acquired a new position in Lennar in the third quarter worth $115,229,000. Pacer Advisors Inc. grew its holdings in shares of Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after purchasing an additional 589,553 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after buying an additional 515,378 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.