Lennar (NYSE:LEN) Price Target Lowered to $110.00 at Barclays

Lennar (NYSE:LEN) had its price target decreased by Barclays from $121.00 to $110.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group decreased their price target on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Wedbush reiterated a “neutral” rating and set a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. Citigroup lowered their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America cut their price target on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Fifteen investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $154.73.

Lennar Stock Performance

Shares of NYSE LEN opened at $117.52 on Monday. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.24 and a beta of 1.69. Lennar has a one year low of $111.26 and a one year high of $187.61. The business has a fifty day simple moving average of $125.81 and a 200 day simple moving average of $152.70. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the prior year, the company posted $2.57 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is 14.57%.

Institutional Investors Weigh In On Lennar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after acquiring an additional 213,003 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after purchasing an additional 73,638 shares during the last quarter. Pacer Advisors Inc. lifted its position in Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Wellington Management Group LLP boosted its stake in shares of Lennar by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after purchasing an additional 515,378 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 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.