Lennar (NYSE:LEN) Given New $237.00 Price Target at Evercore ISI

Lennar (NYSE:LEN) had its price target cut by Evercore ISI from $238.00 to $237.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other research firms have also weighed in on LEN. Oppenheimer reaffirmed a market perform rating on shares of Lennar in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lennar from $110.00 to $122.00 and gave the stock a sell rating in a research report on Thursday, March 14th. UBS Group upped their target price on shares of Lennar from $190.00 to $198.00 and gave the company a buy rating in a research note on Friday, March 15th. JPMorgan Chase & Co. reduced their target price on Lennar from $161.00 to $157.00 and set a neutral rating on the stock in a report on Monday, March 18th. Finally, Barclays raised their price objective on Lennar from $173.00 to $180.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $166.47.

Lennar Stock Performance

Shares of NYSE:LEN opened at $151.55 on Thursday. The company has a market cap of $42.18 billion, a P/E ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.56. Lennar has a one year low of $102.90 and a one year high of $172.59. The business’s 50-day simple moving average is $156.53 and its 200 day simple moving average is $155.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 4.93.

Lennar Announces Dividend

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

Insider Activity

In other Lennar news, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now owns 11,859 shares in the company, valued at $1,861,863. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock worth $4,841,039 over the last 90 days. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of Lennar

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in Lennar by 6,297.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after purchasing an additional 651,924 shares during the last quarter. AQR Capital Management LLC lifted its stake in Lennar by 47.6% in the third quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock valued at $168,486,000 after acquiring an additional 484,056 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after acquiring an additional 366,983 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Lennar during the 1st quarter valued at $61,807,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Lennar by 157.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.