Keefe, Bruyette & Woods Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target lowered by Keefe, Bruyette & Woods from $210.00 to $170.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other equities analysts have also issued reports about the company. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research report on Friday. Bank of America upped their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) increased their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $175.94.

Lennar Stock Down 0.2 %

Shares of NYSE:LEN opened at $138.08 on Friday. The stock has a market cap of $37.45 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.31 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. The business’s 50 day moving average is $168.98 and its 200 day moving average is $169.43. Lennar has a 12-month low of $135.21 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.82 EPS. On average, sell-side analysts forecast that Lennar will post 14.11 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LEN. Oakworth Capital Inc. purchased a new position in shares of Lennar during the third quarter worth $27,000. Wolff Wiese Magana LLC raised its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Lennar during the third quarter worth about $30,000. Asset Dedication LLC lifted its stake in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after purchasing an additional 157 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.