Lennar (NYSE:LEN) Downgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company lowered shares of Lennar (NYSE:LEN) from an overweight rating to an equal weight rating in a report issued on Monday, MarketBeat.com reports. The brokerage currently has $190.00 price target on the construction company’s stock, down from their prior price target of $205.00.

LEN has been the subject of several other reports. Barclays lifted their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an overweight rating in a report on Monday, September 23rd. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the company a neutral rating in a research report on Monday, September 23rd. Argus lifted their target price on Lennar from $175.00 to $180.00 and gave the stock a buy rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upped their price target on Lennar from $154.00 to $173.00 and gave the company a neutral rating in a report on Monday, September 23rd. Finally, JMP Securities boosted their target price on Lennar from $170.00 to $210.00 and gave the stock a market outperform rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of Hold and a consensus target price of $181.11.

Lennar Stock Down 1.2 %

NYSE:LEN opened at $178.20 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm’s 50-day moving average price is $179.82 and its 200-day moving average price is $166.02. The company has a market capitalization of $48.93 billion, a PE ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 1.61. Lennar has a 1-year low of $102.90 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.91 earnings per share. On average, equities analysts predict that Lennar will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.12%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Institutional Trading of Lennar

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC raised its position in shares of Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in Lennar during the first quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar in the first quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its position in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after purchasing an additional 161 shares in 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.