Keefe, Bruyette & Woods Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN - Get Free Report) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $141.00 to $128.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "market perform" rating on the construction company's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 12.45% from the stock's current price.

Several other brokerages also recently commented on LEN. Evercore ISI restated an "in-line" rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a research report on Monday, March 24th. BTIG Research lowered Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Wells Fargo & Company cut their price objective on shares of Lennar from $130.00 to $125.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. Finally, Bank of America cut their target price on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $151.07.

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Lennar Stock Down 3.5 %

Shares of NYSE LEN traded down $4.15 during trading on Tuesday, reaching $113.83. The company had a trading volume of 3,553,781 shares, compared to its average volume of 2,479,698. The business's 50-day moving average is $124.05 and its 200 day moving average is $151.13. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $30.22 billion, a PE ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar has a 12-month low of $111.26 and a 12-month high of $187.61.

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

Institutional Trading of Lennar

A number of large investors have recently made changes to their positions in the company. Verition Fund Management LLC increased its holdings in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company's stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new position in shares of Lennar in the 4th quarter valued at approximately $900,000. Nordea Investment Management AB increased its stake in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after purchasing an additional 397,492 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Lennar by 13.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company's stock worth $5,677,000 after acquiring an additional 3,674 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in Lennar by 71.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company's stock valued at $2,686,000 after acquiring an additional 5,981 shares in 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.