Lennar (NYSE:LEN) Rating Lowered to Neutral at BTIG Research

Lennar (NYSE:LEN) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports.

LEN has been the topic of a number of other reports. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Evercore ISI reduced their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Wedbush reissued a “neutral” rating and issued a $164.00 target price on shares of Lennar in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $175.94.

Lennar Stock Down 0.2 %

NYSE:LEN opened at $138.08 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm’s 50-day moving average price is $168.98 and its 200-day moving average price is $169.51. The company has a market capitalization of $37.45 billion, a PE ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. Lennar has a 1-year low of $135.21 and a 1-year high of $193.80.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. bought a new position in shares of Lennar in the third quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its stake in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar in the 3rd quarter worth $30,000. Asset Dedication LLC raised its holdings in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC boosted its stake in shares of Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.