The Goldman Sachs Group Cuts Lennar (NYSE:LEN) Price Target to $162.00

Lennar (NYSE:LEN) had its price objective cut by The Goldman Sachs Group from $190.00 to $162.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other analysts have also recently weighed in on the company. Citigroup lifted their price target on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Bank Of America (Bofa) upped their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada decreased their target price on shares of Lennar from $160.00 to $130.00 and set an “underperform” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Lennar presently has a consensus rating of “Hold” and an average target price of $175.19.

Lennar Stock Performance

LEN stock opened at $138.00 on Monday. Lennar has a one year low of $135.21 and a one year high of $193.80. The stock has a market cap of $37.43 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. The company has a fifty day moving average price of $167.16 and a two-hundred day moving average price of $169.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.82 EPS. Equities analysts anticipate that Lennar will post 14.11 EPS for the current year.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lennar

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