Lennar (NYSE:LEN) Given New $195.00 Price Target at Wells Fargo & Company

Lennar (NYSE:LEN) had its price objective increased by Wells Fargo & Company from $185.00 to $195.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Several other analysts also recently commented on LEN. Citigroup reaffirmed a neutral rating and issued a $164.00 price objective (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. StockNews.com raised Lennar from a hold rating to a buy rating in a research report on Sunday. Raymond James cut Lennar from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Wedbush raised Lennar from an underperform rating to a neutral rating and set a $144.00 target price on the stock in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group lowered Lennar from a buy rating to a neutral rating and lowered their price objective for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $169.13.

Lennar Stock Performance

Shares of LEN traded up $1.61 during trading hours on Monday, reaching $172.00. 1,901,450 shares of the company traded hands, compared to its average volume of 2,163,484. The stock has a market capitalization of $47.23 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.60 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $158.20 and a 200-day moving average price of $157.94. Lennar has a 12-month low of $102.90 and a 12-month high of $182.53.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Equities analysts anticipate that Lennar will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, July 5th. Lennar’s payout ratio is presently 13.60%.

Insiders Place Their Bets

In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares in the company, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 over the last quarter. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Several institutional investors and hedge funds have recently modified their holdings of LEN. Rise Advisors LLC grew its position in Lennar by 484.0% in the 1st 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 stake in Lennar during the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in Lennar during the 1st quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lennar in the first quarter worth $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 worth $35,000 after acquiring 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.