Lennar (NYSE:LEN) Price Target Lowered to $162.00 at The Goldman Sachs Group

Lennar (NYSE:LEN) had its price objective trimmed by The Goldman Sachs Group from $190.00 to $162.00 in a report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada cut their target price on shares of Lennar from $160.00 to $130.00 and set an “underperform” rating on the stock in a research note on Friday. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research note on Friday. Citigroup increased their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Evercore ISI decreased their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lennar has an average rating of “Hold” and a consensus target price of $175.19.

Lennar Price Performance

LEN stock opened at $138.00 on Monday. The company has a market cap of $37.43 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $168.98 and a two-hundred day moving average price of $169.58. Lennar has a 12-month low of $135.21 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.82 EPS. As a group, research analysts predict that Lennar will post 14.11 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. Lennar’s dividend payout ratio (DPR) is 13.95%.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Large investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC grew its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Lennar during the third quarter valued at approximately $30,000. Asset Dedication LLC boosted its position in shares of Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares during the period. Finally, DT Investment Partners LLC increased its position in Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

About Lennar

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.