Lennar (NYSE:LEN) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Lennar (NYSE:LEN) in a research report released on Wednesday, Marketbeat reports. The brokerage issued a hold rating and a $110.00 price target on the construction company’s stock.

Several other brokerages have also recently issued reports on LEN. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $125.00 target price on shares of Lennar in a report on Tuesday, January 13th. UBS Group cut Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $137.00 to $122.00 in a research report on Tuesday, January 6th. Royal Bank Of Canada set a $88.00 target price on Lennar in a report on Friday, January 9th. Citizens Jmp reaffirmed a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Finally, Bank of America reiterated an “underperform” rating and issued a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $106.64.

Lennar Stock Down 1.7%

Shares of NYSE LEN opened at $106.54 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. Lennar has a one year low of $98.42 and a one year high of $144.24. The firm’s 50 day simple moving average is $113.30 and its two-hundred day simple moving average is $121.31. The stock has a market capitalization of $26.31 billion, a P/E ratio of 13.33, a PEG ratio of 1.58 and a beta of 1.43.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the previous year, the firm posted $4.03 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio is 25.03%.

Institutional Trading of Lennar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the period. Intech Investment Management LLC lifted its position in Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after purchasing an additional 3,177 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Lennar in the second quarter worth about $340,000. Crestwood Advisors Group LLC raised its stake in shares of Lennar by 1.7% in the second quarter. Crestwood Advisors Group LLC now owns 10,093 shares of the construction company’s stock worth $1,116,000 after buying an additional 170 shares during the period. Finally, Commonwealth Retirement Investments LLC lifted its position in shares of Lennar by 204.9% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 23,886 shares of the construction company’s stock valued at $2,642,000 after buying an additional 16,051 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.