Keefe, Bruyette & Woods Cuts Lennar (NYSE:LEN) Price Target to $152.00

Lennar (NYSE:LEN) had its target price lowered by Keefe, Bruyette & Woods from $170.00 to $152.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other analysts have also weighed in on the company. Citigroup lowered their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Barclays lowered their price objective on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Bank of America lowered their price objective on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.06.

Lennar Stock Performance

Lennar stock opened at $123.80 on Tuesday. Lennar has a 52-week low of $119.25 and a 52-week high of $193.80. The firm has a market capitalization of $32.87 billion, a P/E ratio of 8.63, a P/E/G ratio of 1.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a fifty day moving average price of $138.43 and a two-hundred day moving average price of $163.66.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the business posted $4.82 earnings per share. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, analysts anticipate that Lennar will post 12.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently modified their holdings of the business. Farringdon Capital Ltd. bought a new position in shares of Lennar during the 4th quarter valued at about $1,516,000. Bridgewater Associates LP raised its position in Lennar by 69.7% in the 4th quarter. Bridgewater Associates LP now owns 326,518 shares of the construction company’s stock valued at $44,527,000 after buying an additional 134,155 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Lennar in the 4th quarter valued at approximately $27,933,000. Canada Post Corp Registered Pension Plan acquired a new stake in Lennar in the 4th quarter valued at approximately $543,000. Finally, CreativeOne Wealth LLC raised its position in Lennar by 6.2% in the 4th quarter. CreativeOne Wealth LLC now owns 4,551 shares of the construction company’s stock valued at $621,000 after buying an additional 264 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

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.