Lennar Corporation (NYSE:LEN) Stock Has Average Price Target of $79.00

Shares of Lennar Corporation (NYSE:LEN) have received a consensus recommendation of “Strong Sell” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $79.00.

A number of brokerages have commented on LEN. Morgan Stanley began coverage on shares of Lennar in a research report on Thursday, October 1st. They set an “underweight” rating and a $65.00 price target on the stock. Truist Financial decreased their price target on Lennar from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, September 16th. Royal Bank Of Canada dropped their price objective on Lennar from $85.00 to $69.00 and set an “underperform” rating on the stock in a research note on Friday, September 18th. Weiss Ratings downgraded Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 21st. Finally, Benchmark upgraded Lennar to a “hold” rating in a research report on Thursday, September 3rd.

Lennar Stock Up 1.7%

Lennar stock opened at $86.95 on Friday. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.21 and a beta of 1.36. Lennar has a 52-week low of $71.78 and a 52-week high of $133.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. The firm has a 50 day moving average price of $81.09 and a two-hundred day moving average price of $91.59.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities analysts predict that Lennar will post 4.88 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s payout ratio is 37.81%.

Insider Transactions at Lennar

In related news, major shareholder Berkshire Hathaway Inc bought 1,708,095 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average price of $79.44 per share, for a total transaction of $135,691,066.80. Following the transaction, the insider directly owned 28,438,045 shares of the company’s stock, valued at approximately $2,259,118,294.80. The trade was a 6.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 7,502,276 shares of company stock valued at $595,303,287 over the last quarter. 10.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lennar

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in shares of Lennar by 19.7% in the first quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after purchasing an additional 419,745 shares in the last quarter. Swiss National Bank boosted its position in shares of Lennar by 4.8% during the first quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock valued at $52,231,000 after buying an additional 27,500 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. boosted its position in shares of Lennar by 6,292.5% during the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock valued at $29,681,000 after buying an additional 322,869 shares during the last quarter. California Public Employees Retirement System grew its holdings in Lennar by 2.3% during the first quarter. California Public Employees Retirement System now owns 313,354 shares of the construction company’s stock worth $27,212,000 after buying an additional 7,103 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Lennar by 322.4% during the first quarter. Empowered Funds LLC now owns 309,880 shares of the construction company’s stock worth $26,910,000 after buying an additional 236,524 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

About Lennar

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.