Lennar (NYSE:LEN) Price Target Cut to $174.00 by Analysts at Citigroup

Lennar (NYSE:LENFree Report) had its price objective cut by Citigroup from $198.00 to $174.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

LEN has been the topic of several other research reports. Wedbush reissued an underperform rating and issued a $144.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. JPMorgan Chase & Co. dropped their price target on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research report on Thursday. Oppenheimer reaffirmed a market perform rating on shares of Lennar in a research report on Friday, March 15th. JMP Securities reaffirmed a market outperform rating and set a $170.00 price target on shares of Lennar in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Lennar from $165.00 to $175.00 and gave the company an overweight rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $166.47.

Read Our Latest Research Report on LEN

Lennar Stock Up 1.5 %

LEN stock opened at $151.55 on Friday. The stock’s fifty day simple moving average is $156.53 and its two-hundred day simple moving average is $155.22. The company has a current ratio of 4.93, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08. Lennar has a 1-year low of $102.90 and a 1-year high of $172.59. The stock has a market cap of $42.18 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.56.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Lennar’s dividend payout ratio is currently 13.60%.

Insiders Place Their Bets

In other Lennar news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lennar news, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the transaction, the vice president now directly owns 16,768 shares in the company, valued at approximately $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Banse acquired 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders have sold 29,176 shares of company stock worth $4,841,039 in the last ninety days. 9.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Lennar in the 3rd quarter worth about $491,000. V Square Quantitative Management LLC purchased a new position in shares of Lennar in the 3rd quarter worth about $187,000. Clearbridge Investments LLC boosted its holdings in shares of Lennar by 4.5% in the 3rd quarter. Clearbridge Investments LLC now owns 28,563 shares of the construction company’s stock worth $3,206,000 after purchasing an additional 1,230 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Lennar by 15.9% in the 3rd quarter. LPL Financial LLC now owns 110,053 shares of the construction company’s stock worth $12,351,000 after purchasing an additional 15,136 shares in the last quarter. Finally, Mariner LLC boosted its holdings in Lennar by 2.5% during the 3rd quarter. Mariner LLC now owns 72,196 shares of the construction company’s stock valued at $8,103,000 after acquiring an additional 1,745 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Company Profile

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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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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