Lennar (NYSE:LEN) Price Target Lowered to $130.00 at Royal Bank of Canada

Lennar (NYSE:LEN) had its price target cut by Royal Bank of Canada from $160.00 to $130.00 in a research note released on Friday morning,Benzinga reports. They currently have an underperform rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the stock. Bank Of America (Bofa) increased their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. UBS Group cut their target price on Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday. Evercore ISI reduced their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Citigroup upped their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Barclays decreased their price objective on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $175.94.

Lennar Stock Down 0.2 %

LEN stock opened at $138.08 on Friday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $168.98 and a two-hundred day moving average price of $169.43. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. Lennar has a twelve month low of $135.21 and a twelve month high of $193.80.

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 company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter last year, the business earned $4.82 EPS. Lennar’s revenue was down 9.3% on a year-over-year basis. Analysts anticipate that Lennar will post 14.11 EPS 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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.95%.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’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 transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lennar

A number of large investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its stake in shares of Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after purchasing an additional 66 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after purchasing an additional 71 shares during the period. Quotient Wealth Partners LLC grew its stake in Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after buying an additional 74 shares during the last quarter. Commerce Bank raised its holdings in shares of Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after buying an additional 74 shares during the last quarter. Finally, Jupiter Wealth Management LLC increased its stake in Lennar by 1.0% during the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after buying an additional 75 shares during the period. 81.10% of the stock is 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.