Lennar (NYSE:LEN) Price Target Lowered to $120.00 at The Goldman Sachs Group

Lennar (NYSE:LEN) had its target price reduced by The Goldman Sachs Group from $141.00 to $120.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. UBS Group lowered their target price on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Evercore ISI restated an “in-line” rating and set a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their target price on Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research report on Tuesday. Fifteen equities research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.07.

Lennar Stock Performance

NYSE:LEN opened at $117.81 on Tuesday. Lennar has a twelve month low of $111.26 and a twelve month high of $187.61. The firm has a market capitalization of $31.28 billion, a price-to-earnings ratio of 8.22, a PEG 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 firm’s fifty day simple moving average is $125.47 and its 200 day simple moving average is $152.27.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. As a group, equities research analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

Institutional Investors Weigh In On Lennar

Several large investors have recently added to or reduced their stakes in LEN. Wealth Enhancement Advisory Services LLC grew its position in Lennar by 0.7% in the 4th 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 last quarter. Centaurus Financial Inc. grew its holdings in Lennar by 7.2% in the 4th 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 increased its position in Lennar by 0.7% in the 4th quarter. Cim LLC now owns 29,702 shares of the construction company’s stock valued at $4,050,000 after acquiring an additional 212 shares during the period. Park Square Financial Group LLC acquired a new position in Lennar during the 4th quarter worth $47,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Lennar in the fourth quarter worth $17,586,000. 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.