Lennar (NYSE:LEN) Downgraded by Raymond James

Lennar (NYSE:LEN) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, FinViz reports.

Several other brokerages have also weighed in on LEN. BTIG Research decreased their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Wedbush reissued an “underperform” rating and set a $144.00 price objective on shares of Lennar in a report on Tuesday, June 18th. Evercore ISI decreased their price objective on shares of Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Royal Bank of Canada reissued an “underperform” rating and set a $145.00 price objective on shares of Lennar in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $166.69.

Lennar Price Performance

Shares of LEN stock opened at $145.93 on Tuesday. The firm has a market cap of $40.62 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. Lennar has a 1-year low of $102.90 and a 1-year high of $172.59. The firm has a fifty day moving average of $156.22 and a two-hundred day moving average of $155.54.

Insider Transactions at Lennar

In related news, Director Amy Banse acquired 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Amy Banse bought 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The disclosure for this sale can be found here. In the last three months, insiders sold 29,176 shares of company stock valued at $4,841,039. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Lennar by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after purchasing an additional 366,983 shares in the last quarter. Pacer Advisors Inc. increased its stake in Lennar by 3.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after purchasing an additional 79,217 shares in the last quarter. Nordea Investment Management AB increased its stake in Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after purchasing an additional 60,713 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lennar by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after acquiring an additional 8,008 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Lennar by 6,297.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after acquiring an additional 651,924 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.