Lennar (NYSE:LEN) Receives Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of Lennar (NYSE:LEN) in a research note published on Thursday morning, Marketbeat reports. The brokerage currently has a $164.00 price objective on the construction company’s stock.

A number of other research firms also recently weighed in on LEN. Citigroup upped their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Bank of America raised their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wells Fargo & Company cut their price target on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $183.76.

Lennar Trading Down 0.7 %

Shares of LEN stock opened at $154.39 on Thursday. The firm has a market capitalization of $41.88 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar has a 1 year low of $140.65 and a 1 year high of $193.80. The stock has a fifty day moving average of $172.46 and a two-hundred day moving average of $169.96.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the firm posted $3.91 EPS. Lennar’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Lennar will post 14.11 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is presently 13.25%.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $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 hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Several large investors have recently made changes to their positions in LEN. Lakewood Asset Management LLC lifted its stake in shares of Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after purchasing an additional 70 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Lennar by 15.9% during the 2nd quarter. TCW Group Inc. now owns 610,549 shares of the construction company’s stock worth $91,503,000 after acquiring an additional 83,896 shares in the last quarter. Central Bank & Trust Co. increased its holdings in shares of Lennar by 155.3% during the 2nd quarter. Central Bank & Trust Co. now owns 7,849 shares of the construction company’s stock valued at $1,176,000 after acquiring an additional 4,775 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Lennar by 15.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,504 shares of the construction company’s stock worth $1,874,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in Lennar by 35.8% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,396 shares of the construction company’s stock worth $208,000 after purchasing an additional 368 shares during the period. Institutional investors 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.