Lennar (NYSE:LEN) Given Underperform Rating at Wedbush

Wedbush reaffirmed their underperform rating on shares of Lennar (NYSE:LEN) in a research note released on Tuesday morning, Marketbeat Ratings reports. Wedbush currently has a $144.00 price objective on the construction company’s stock.

A number of other research analysts have also recently issued reports on LEN. Keefe, Bruyette & Woods lifted their price target on shares of Lennar from $175.00 to $183.00 and gave the company an outperform rating in a research report on Wednesday, March 20th. Citigroup lifted their price target on shares of Lennar from $179.00 to $198.00 and gave the company a buy rating in a research report on Friday, April 5th. JMP Securities reissued a market outperform rating and set a $170.00 price target on shares of Lennar in a research report on Friday, March 15th. JPMorgan Chase & Co. lowered their price target on shares of Lennar from $161.00 to $157.00 and set a neutral rating for the company in a research report on Monday, March 18th. Finally, Wells Fargo & Company raised their price objective on shares of Lennar from $165.00 to $175.00 and gave the company an overweight rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $166.80.

Lennar Price Performance

Shares of Lennar stock opened at $148.76 on Tuesday. The firm has a market cap of $41.41 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57. Lennar has a 12-month low of $102.90 and a 12-month high of $172.59. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $157.06 and its two-hundred day simple moving average is $154.86.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were given a $0.50 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Lennar’s payout ratio is currently 14.02%.

Insider Buying and Selling at Lennar

In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the sale, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the sale, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the sale, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock valued at $4,841,039 over the last 90 days. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Several large investors have recently modified their holdings of LEN. Integrated Advisors Network LLC raised its position in Lennar by 177.3% in the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after acquiring an additional 19,985 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in Lennar in the fourth quarter worth $838,000. Coastline Trust Co raised its position in Lennar by 80.8% in the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after acquiring an additional 10,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Lennar by 53.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after acquiring an additional 11,851 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in Lennar in the fourth quarter worth $3,356,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.