Bank of America Cuts Lennar (NYSE:LEN) Price Target to $130.00

Lennar (NYSE:LEN - Free Report) had its target price cut by Bank of America from $140.00 to $130.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company's stock.

Several other brokerages have also issued reports on LEN. Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on Lennar from $130.00 to $125.00 and set an "equal weight" rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods downgraded Lennar from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $152.00 to $141.00 in a research note on Tuesday, March 11th. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, UBS Group dropped their price target on Lennar from $205.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Fourteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $164.53.

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Lennar Stock Down 4.1 %

Lennar stock traded down $4.98 during trading on Tuesday, hitting $115.09. 12,340,777 shares of the company were exchanged, compared to its average volume of 2,363,906. The business's 50 day moving average is $126.09 and its 200 day moving average is $153.31. Lennar has a 52 week low of $111.26 and a 52 week high of $187.61. The company has a market capitalization of $30.56 billion, a P/E ratio of 8.03, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the company earned $2.57 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts predict that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio is currently 13.95%.

Institutional Trading of Lennar

Hedge funds have recently bought and sold shares of the company. Smead Capital Management Inc. increased its position in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock valued at $499,991,000 after acquiring an additional 89,896 shares during the last quarter. Verition Fund Management LLC increased its position in Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company's stock valued at $12,978,000 after acquiring an additional 41,264 shares during the last quarter. Polianta Ltd purchased a new stake in Lennar during the fourth quarter valued at $900,000. Nordea Investment Management AB increased its position in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after acquiring an additional 397,492 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Lennar by 13.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company's stock valued at $5,677,000 after acquiring an additional 3,674 shares during the last quarter. Hedge funds and other 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.