Lennar (NYSE:LEN) Price Target Raised to $230.00

Lennar (NYSE:LEN) had its price objective upped by Keefe, Bruyette & Woods from $183.00 to $230.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research report on Thursday, June 20th. Argus lifted their price target on Lennar from $175.00 to $180.00 and gave the company a buy rating in a research report on Thursday, June 27th. Citigroup restated a neutral rating and issued a $164.00 price objective (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. StockNews.com lowered shares of Lennar from a buy rating to a hold rating in a report on Monday, August 12th. Finally, BTIG Research lowered their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating on the stock in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar presently has an average rating of Hold and a consensus target price of $172.06.

Lennar Trading Up 0.9 %

Lennar stock opened at $179.42 on Wednesday. The stock has a 50-day moving average price of $168.92 and a 200 day moving average price of $161.93. The company has a market capitalization of $49.27 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.61. Lennar has a 52 week low of $102.90 and a 52 week high of $186.60. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, beating the consensus estimate of $3.20 by $0.18. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. Sell-side analysts anticipate that Lennar will post 14.16 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio is presently 13.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. Rise Advisors LLC raised its position in shares of 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 buying an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in Lennar in the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar in the 1st quarter worth approximately $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.