Lennar (NYSE:LEN) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

Lennar (NYSE:LEN) had its target price cut by Wells Fargo & Company from $145.00 to $130.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

A number of other equities research analysts have also weighed in on LEN. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America cut their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Barclays decreased their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. UBS Group reduced their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $163.88.

Lennar Stock Up 1.4 %

Shares of NYSE LEN opened at $122.62 on Tuesday. The company has a market cap of $32.56 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.24 and a beta of 1.67. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $134.44 and its 200 day moving average is $161.76. Lennar has a 52 week low of $117.90 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the company posted $4.82 earnings per share. On average, equities research analysts expect that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. Lennar’s dividend payout ratio is currently 13.95%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LEN. The Manufacturers Life Insurance Company raised its holdings in shares of Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after purchasing an additional 213,003 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after purchasing an additional 73,638 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 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 acquiring an additional 515,378 shares during the period. Finally, Smead Capital Management Inc. grew its holdings in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 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.