Analysts Set Lennar Corporation (NYSE:LEN) PT at $106.14

Shares of Lennar Corporation (NYSE:LEN) have received a consensus rating of “Reduce” from the nineteen analysts that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $102.0714.

LEN has been the topic of a number of research reports. Royal Bank Of Canada set a $88.00 price objective on Lennar in a report on Friday, January 9th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Truist Financial cut their price target on shares of Lennar from $110.00 to $95.00 and set a “hold” rating on the stock in a report on Monday. Citigroup reduced their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Bank of America reissued an “underperform” rating and issued a $95.00 price objective (down from $125.00) on shares of Lennar in a research report on Thursday, December 18th.

Lennar Price Performance

LEN opened at $93.62 on Friday. Lennar has a 1 year low of $92.17 and a 1 year high of $144.24. The company’s 50 day simple moving average is $111.64 and its 200 day simple moving average is $118.67. The stock has a market capitalization of $23.12 billion, a PE ratio of 13.45, a P/E/G ratio of 1.99 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. As a group, sell-side analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s dividend payout ratio is presently 28.74%.

Institutional Investors Weigh In On Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Viking Global Investors LP grew its stake in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Lennar by 90.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after acquiring an additional 934,856 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Lennar in the fourth quarter valued at about $95,941,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after purchasing an additional 603,004 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock worth $50,383,000 after purchasing an additional 455,174 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.