Lennar (LEN) Price Target Lowered to $71.00 at Maxim Group

Lennar (NYSE:LEN) had its price objective decreased by Maxim Group from $83.00 to $71.00 in a research note issued to investors on Wednesday. Maxim Group currently has a buy rating on the construction company’s stock.

LEN has been the subject of a number of other research reports. Zacks Investment Research raised shares of Lennar from a hold rating to a buy rating and set a $68.00 price objective for the company in a research report on Tuesday, March 13th. Deutsche Bank decreased their price objective on shares of Lennar from $68.00 to $65.00 and set a hold rating for the company in a research report on Tuesday, April 10th. Evercore ISI raised shares of Lennar from an in-line rating to an outperform rating in a research report on Friday, February 23rd. ValuEngine downgraded shares of Lennar from a buy rating to a hold rating in a research report on Tuesday, April 24th. Finally, Credit Suisse Group decreased their price objective on shares of Lennar from $81.00 to $78.00 and set an outperform rating for the company in a research report on Thursday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. Lennar currently has a consensus rating of Buy and an average price target of $71.81.

Lennar stock opened at $51.75 on Wednesday. The firm has a market capitalization of $16.57 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.25. Lennar has a 1-year low of $49.52 and a 1-year high of $72.17. The company has a quick ratio of 0.84, a current ratio of 16.40 and a debt-to-equity ratio of 0.79.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 11.65%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 27.5% on a year-over-year basis. research analysts anticipate that Lennar will post 4.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 25th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Tuesday, April 24th. Lennar’s dividend payout ratio (DPR) is 4.20%.

In other Lennar news, SVP Jeffrey Joseph Mccall sold 50,888 shares of Lennar stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $53.92, for a total value of $2,743,880.96. Following the completion of the sale, the senior vice president now owns 190,053 shares in the company, valued at approximately $10,247,657.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of Lennar stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $62.98, for a total transaction of $131,943.10. Following the completion of the sale, the director now owns 32,072 shares of the company’s stock, valued at approximately $2,019,894.56. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Comerica Bank raised its stake in Lennar by 3.1% in the 4th quarter. Comerica Bank now owns 52,232 shares of the construction company’s stock worth $3,701,000 after purchasing an additional 1,556 shares in the last quarter. Toronto Dominion Bank raised its stake in Lennar by 14.2% in the 4th quarter. Toronto Dominion Bank now owns 88,013 shares of the construction company’s stock worth $5,566,000 after purchasing an additional 10,940 shares in the last quarter. First Trust Advisors LP raised its stake in Lennar by 16.1% in the 4th quarter. First Trust Advisors LP now owns 306,342 shares of the construction company’s stock worth $19,373,000 after purchasing an additional 42,562 shares in the last quarter. Amalgamated Bank raised its stake in Lennar by 9.8% in the 4th quarter. Amalgamated Bank now owns 25,169 shares of the construction company’s stock worth $1,592,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in Lennar in the 4th quarter worth about $627,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

Analyst Recommendations for Lennar (NYSE:LEN)

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