Wedbush Reaffirms “Underperform” Rating for Lennar (NYSE:LEN)

Wedbush restated their underperform rating on shares of Lennar (NYSE:LEN) in a research note published on Tuesday morning, Marketbeat.com reports. They currently have a $144.00 price objective on the construction company’s stock.

A number of other analysts have also weighed in on LEN. Barclays increased their price objective on shares of Lennar from $173.00 to $180.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Oppenheimer reiterated a market perform rating on shares of Lennar in a research note on Friday, March 15th. Keefe, Bruyette & Woods upped their target price on Lennar from $175.00 to $183.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. JMP Securities reiterated a market outperform rating and set a $170.00 price target on shares of Lennar in a research report on Friday, March 15th. Finally, UBS Group upped their price objective on Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of Hold and a consensus price target of $168.07.

Lennar Stock Performance

Shares of LEN stock opened at $149.19 on Tuesday. The business has a fifty day moving average of $156.70 and a 200 day moving average of $154.78. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 1.27. The firm has a market capitalization of $41.53 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.56.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s payout ratio is 13.60%.

Insider Transactions at Lennar

In related news, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $157.00 per share, with a total value of $247,275.00. Following the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Rise Advisors LLC boosted its holdings in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $28,000. J.Safra Asset Management Corp acquired a new position in shares of Lennar in the 1st quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar in the 1st quarter valued at $32,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Lennar during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 81.10% 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. 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.