Lennar (NYSE:LEN) Price Target Raised to $120.00

Lennar (NYSE:LEN – Get Rating) had its price target boosted by BTIG Research from $116.00 to $120.00 in a research note released on Thursday, The Fly reports.

LEN has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Lennar from $73.00 to $97.00 and gave the company a neutral rating in a research report on Tuesday, November 22nd. Bank of America raised Lennar from an underperform rating to a neutral rating and lifted their target price for the company from $92.00 to $102.00 in a research report on Wednesday, January 11th. KeyCorp lifted their target price on Lennar from $100.00 to $110.00 and gave the company an overweight rating in a research report on Friday, December 16th. Royal Bank of Canada lowered Lennar from a sector perform rating to an underperform rating and dropped their target price for the company from $79.00 to $76.00 in a research report on Friday, January 13th. Finally, Oppenheimer assumed coverage on Lennar in a research report on Wednesday, March 1st. They issued a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $102.07.

Lennar Trading Down 0.7 %

NYSE LEN opened at $103.50 on Thursday. The firm has a market cap of $29.98 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.92 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.48. The stock’s 50-day moving average is $99.53 and its 200-day moving average is $88.47. Lennar has a one year low of $62.54 and a one year high of $109.28.

Lennar (NYSE:LEN – Get Rating) last released its quarterly earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.56. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $5.99 billion. Lennar had a return on equity of 21.18% and a net margin of 13.86%. Lennar’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 earnings per share. Sell-side analysts anticipate that Lennar will post 9.19 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, January 26th. This represents a $1.50 annualized dividend and a dividend yield of 1.45%. Lennar’s dividend payout ratio is currently 9.30%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC boosted its stake in shares of Lennar by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 27,918 shares of the construction company’s stock worth $2,527,000 after acquiring an additional 113 shares during the period. Exencial Wealth Advisors LLC boosted its stake in Lennar by 3.3% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 3,920 shares of the construction company’s stock valued at $292,000 after purchasing an additional 127 shares during the period. Mutual Advisors LLC boosted its stake in Lennar by 2.3% in the 3rd quarter. Mutual Advisors LLC now owns 5,908 shares of the construction company’s stock valued at $440,000 after purchasing an additional 131 shares during the period. Intech Investment Management LLC boosted its stake in Lennar by 0.9% in the 3rd quarter. Intech Investment Management LLC now owns 14,063 shares of the construction company’s stock valued at $1,048,000 after purchasing an additional 131 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Lennar by 2.2% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock valued at $502,000 after purchasing an additional 146 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Lennar Company Profile

(Get Rating)

Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.