Lennar (NYSE:LEN) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Lennar (NYSE:LEN) from an outperform rating to a peer perform rating in a research note released on Wednesday morning, MarketBeat.com reports.

Several other research firms have also recently issued reports on LEN. The Goldman Sachs Group cut their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Keefe, Bruyette & Woods cut their price target on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Royal Bank of Canada lowered their price objective on Lennar from $160.00 to $130.00 and set an “underperform” rating for the company in a research report on Friday, December 20th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Citigroup lowered their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.50.

Lennar Stock Down 3.0 %

LEN stock opened at $129.58 on Wednesday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $156.42 and a two-hundred day moving average of $167.54. Lennar has a 12 month low of $129.36 and a 12 month high of $193.80. The company has a market cap of $35.15 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.28 and a beta of 1.66.

Lennar (NYSE:LEN) last announced 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). The company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.82 EPS. As a group, analysts forecast that Lennar will post 14.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lennar

Several large investors have recently bought and sold shares of the business. Moors & Cabot Inc. increased its holdings 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 acquiring an additional 66 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of Lennar by 2.5% during the 3rd 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. Commerce Bank increased its holdings in shares of Lennar by 0.5% in the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after purchasing an additional 74 shares in the last quarter. Jupiter Wealth Management LLC boosted its holdings in Lennar by 1.0% during the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after buying an additional 75 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its position in Lennar by 5.4% during the third quarter. Catalyst Financial Partners LLC now owns 1,510 shares of the construction company’s stock worth $283,000 after buying an additional 77 shares during the period. Hedge funds and other 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.