Lennar (NYSE:LEN) Price Target Raised to $196.00 at Citigroup

Lennar (NYSE:LEN) had its price objective upped by Citigroup from $164.00 to $196.00 in a report released on Monday, Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

LEN has been the subject of a number of other research reports. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the stock an outperform rating in a report on Wednesday, September 4th. Evercore ISI raised their price objective on shares of Lennar from $237.00 to $240.00 and gave the company an outperform rating in a report on Monday, July 15th. Argus upped their price target on shares of Lennar from $175.00 to $180.00 and gave the company a buy rating in a research report on Thursday, June 27th. Bank Of America (Bofa) raised 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. Finally, BTIG Research decreased their price objective on Lennar from $177.00 to $175.00 and set a buy rating for the company in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $181.94.

Lennar Stock Up 0.7 %

LEN stock opened at $183.13 on Monday. The stock has a market capitalization of $50.29 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $177.67 and a 200-day moving average price of $164.42. Lennar has a 12 month low of $102.90 and a 12 month high of $193.80.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

Hedge Funds Weigh In On Lennar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. increased its position in Lennar by 5.5% in the 2nd quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after buying an additional 149 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Lennar during the second quarter worth approximately $6,069,000. Clearbridge Investments LLC lifted 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 purchasing an additional 28,938 shares in the last quarter. Delphi Management Inc. MA grew its position in Lennar by 3.4% in 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 during the period. Finally, 3Chopt Investment Partners LLC bought a new stake in Lennar during the 2nd quarter valued at $904,000. 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.