Lennar (NYSE:LEN) Given New $130.00 Price Target at Bank of America

Lennar (NYSE:LEN) had its price target cut by Bank of America from $140.00 to $130.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities analysts have also commented on the company. Barclays cut their price objective on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wedbush reaffirmed a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research note on Monday. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. UBS Group cut their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada cut their price objective on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $164.53.

Lennar Stock Performance

NYSE:LEN opened at $118.49 on Tuesday. The stock has a market cap of $31.46 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $126.92 and its 200-day moving average is $154.42. Lennar has a 1-year low of $115.61 and a 1-year high of $187.61.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.82 earnings per share. Equities research analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Lennar by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 204,431 shares of the construction company’s stock worth $27,878,000 after purchasing an additional 1,515 shares during the period. Centaurus Financial Inc. grew its holdings in Lennar by 7.2% during the fourth quarter. Centaurus Financial Inc. now owns 3,149 shares of the construction company’s stock worth $429,000 after buying an additional 212 shares in the last quarter. Cim LLC grew its holdings in Lennar by 0.7% during the fourth quarter. Cim LLC now owns 29,702 shares of the construction company’s stock worth $4,050,000 after buying an additional 212 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Lennar during the fourth quarter worth $47,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Lennar during the fourth quarter worth $17,586,000. 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.