Lennar (NYSE:LEN) Given New $114.00 Price Target at Evercore ISI

Lennar (NYSE:LEN) had its price objective reduced by Evercore ISI from $131.00 to $114.00 in a research note released on Wednesday,Benzinga reports. They currently have an in-line rating on the construction company’s stock.

LEN has been the topic of a number of other research reports. Bank of America lowered their target price on Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group lowered their target price on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Royal Bank Of Canada lowered their target price on Lennar from $122.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Sixteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $141.60.

Lennar Stock Performance

Shares of LEN stock opened at $103.37 on Wednesday. Lennar has a 1-year low of $98.42 and a 1-year high of $187.61. The company has a current ratio of 3.65, a quick ratio of 0.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 2.85 and a beta of 1.33. The stock’s fifty day simple moving average is $107.79 and its 200-day simple moving average is $122.57.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same quarter in the prior year, the firm posted $3.45 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar’s dividend payout ratio is 16.54%.

Institutional Trading of Lennar

Several hedge funds have recently added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company boosted its stake in Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after purchasing an additional 2,777,567 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Lennar during the 4th quarter valued at approximately $218,533,000. Eminence Capital LP boosted its stake in Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after purchasing an additional 896,264 shares during the period. Wellington Management Group LLP boosted its stake in Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after purchasing an additional 515,378 shares during the period. Finally, Brave Warrior Advisors LLC boosted its stake in Lennar by 23.4% during the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after purchasing an additional 415,218 shares during the period. 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.