Royal Bank of Canada Lowers Lennar (NYSE:LEN) Price Target to $122.00

Lennar (NYSE:LEN) had its price objective dropped by equities research analysts at Royal Bank of Canada from $125.00 to $122.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 3.56% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Evercore ISI restated an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research note on Monday. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $152.00 to $141.00 in a research report on Tuesday, March 11th. Wells Fargo & Company reduced their price target on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $151.07.

Lennar Stock Up 0.2 %

LEN stock opened at $117.81 on Monday. The company has a 50 day moving average of $125.47 and a two-hundred day moving average of $152.27. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar has a 12-month low of $111.26 and a 12-month high of $187.61. The company has a market cap of $31.28 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. On average, equities analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC grew its holdings in shares of Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after buying an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new stake in shares of Lennar in the fourth quarter valued at approximately $900,000. Nordea Investment Management AB lifted its position in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Lennar by 13.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock worth $5,677,000 after purchasing an additional 3,674 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock valued at $2,686,000 after purchasing an additional 5,981 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

About Lennar

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.