Lennar (NYSE:LEN) Price Target Lowered to $122.00 at Royal Bank of Canada

Lennar (NYSE:LEN) had its price objective decreased by Royal Bank of Canada from $125.00 to $122.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

LEN has been the subject of several other reports. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods cut shares of Lennar from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $152.00 to $141.00 in a research report on Tuesday, March 11th. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company reduced their price target on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, Evercore ISI restated an “in-line” rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a report on Monday. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $154.73.

Lennar Trading Up 2.0 %

NYSE:LEN opened at $117.52 on Monday. The business’s 50-day moving average is $125.81 and its two-hundred day moving average is $152.70. The firm has a market capitalization of $31.20 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar has a 12 month low of $111.26 and a 12 month high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

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

Lennar Announces Dividend

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

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC acquired a new position in Lennar during the 4th quarter valued at approximately $218,533,000. Holocene Advisors LP bought a new stake in Lennar in the third quarter valued at $115,229,000. Pacer Advisors Inc. boosted its holdings in shares of Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after acquiring an additional 589,553 shares during the period. Wellington Management Group LLP grew its position in shares of Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after acquiring an additional 515,378 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after acquiring an additional 397,492 shares during the period. 81.10% of the stock is currently 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.