Keefe, Bruyette & Woods Lowers Lennar (NYSE:LEN) Price Target to $170.00

Lennar (NYSE:LEN - Free Report) had its price target lowered by Keefe, Bruyette & Woods from $210.00 to $170.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the construction company's stock.

Several other research analysts have also recently weighed in on LEN. Wedbush reiterated a "neutral" rating and set a $164.00 price target on shares of Lennar in a research note on Thursday. Citigroup boosted their price target on Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Barclays lowered their price objective on Lennar from $181.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Friday. Zelman & Associates raised shares of Lennar from a "neutral" rating to an "outperform" rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company lowered their price target on shares of Lennar from $180.00 to $165.00 and set an "equal weight" rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $175.94.

Lennar Stock Performance

LEN traded down $0.32 during mid-day trading on Friday, reaching $138.08. 9,057,424 shares of the company traded hands, compared to its average volume of 2,106,758. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80. The stock has a market capitalization of $37.45 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.31 and a beta of 1.61. The company's fifty day moving average price is $168.98 and its 200-day moving average price is $169.43.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $10.06 billion. During the same period in the previous year, the business posted $4.82 earnings per share. The company's revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts expect that Lennar will post 14.11 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. Lennar's payout ratio is currently 13.25%.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company's stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lennar

Several institutional investors have recently made changes to their positions in LEN. &PARTNERS purchased a new position in Lennar during the 2nd quarter valued at $276,000. Quotient Wealth Partners LLC increased its stake in Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company's stock worth $231,000 after buying an additional 74 shares during the period. Fullcircle Wealth LLC bought a new stake in Lennar during the 2nd quarter valued at about $272,000. Spirit of America Management Corp NY purchased a new stake in Lennar in the 2nd quarter valued at about $139,000. Finally, Catalyst Financial Partners LLC bought a new position in Lennar in the 2nd quarter worth about $215,000. 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.