JMP Securities Boosts Lennar (NYSE:LEN) Price Target to $210.00

Lennar (NYSE:LEN) had its price objective increased by JMP Securities from $170.00 to $210.00 in a report issued on Wednesday, Benzinga reports. They currently have a market outperform rating on the construction company’s stock.

A number of other analysts have also recently weighed in on the stock. BTIG Research reduced their price objective on shares of Lennar from $177.00 to $175.00 and set a buy rating for the company in a research note on Thursday, June 20th. StockNews.com upgraded shares of Lennar from a hold rating to a buy rating in a report on Friday, September 20th. Royal Bank of Canada lifted their price objective on Lennar from $145.00 to $160.00 and gave the stock an underperform rating in a research note on Monday, September 23rd. Bank Of America (Bofa) increased their target price on Lennar from $171.00 to $190.00 and gave the company a neutral rating in a research note on Friday, September 20th. Finally, Raymond James lowered Lennar from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $181.94.

Lennar Price Performance

NYSE LEN opened at $187.02 on Wednesday. The company has a 50 day moving average price of $177.93 and a two-hundred day moving average price of $164.55. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80. The stock has a market capitalization of $51.36 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the prior year, the company posted $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Lennar will post 14.13 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio is 13.60%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LEN. Centaurus Financial Inc. increased its position in shares of Lennar by 5.5% during the 2nd quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock worth $430,000 after purchasing an additional 149 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lennar in the second quarter valued at approximately $6,069,000. Clearbridge Investments LLC boosted its holdings in shares of Lennar by 21.1% in the 2nd quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after acquiring an additional 28,938 shares in the last quarter. Delphi Management Inc. MA increased its holdings in Lennar by 3.4% during the 2nd quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock valued at $1,608,000 after purchasing an additional 352 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in Lennar in the 2nd quarter valued at $904,000. 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.