Lennar (NYSE:LEN) Given New $150.00 Price Target at Citigroup

Lennar (NYSE:LEN) had its price target trimmed by Citigroup from $196.00 to $150.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

A number of other research analysts have also issued reports on the company. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Evercore ISI lowered their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Royal Bank of Canada reduced their target price on shares of Lennar from $160.00 to $130.00 and set an “underperform” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, JMP Securities lifted their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $172.31.

Lennar Price Performance

LEN opened at $134.97 on Monday. The stock’s 50-day moving average price is $159.47 and its 200 day moving average price is $168.30. Lennar has a 12-month low of $133.72 and a 12-month high of $193.80. The firm has a market cap of $36.61 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.28 and a beta of 1.66. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 transaction of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LEN. International Assets Investment Management LLC grew its position in Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after buying an additional 149,812 shares during the last quarter. Smead Capital Management Inc. lifted its stake in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after acquiring an additional 89,896 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after acquiring an additional 41,264 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Lennar by 101.2% during the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after purchasing an additional 4,363 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Lennar by 8.7% in the third quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock valued at $19,022,000 after purchasing an additional 8,092 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.