Lennar (NYSE:LEN) Sets New 1-Year Low - Here's What Happened

Lennar Co. (NYSE:LEN - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $108.22 and last traded at $108.38, with a volume of 935716 shares trading hands. The stock had previously closed at $115.66.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LEN. Keefe, Bruyette & Woods cut their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a research note on Tuesday, March 25th. Wolfe Research downgraded Lennar from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. StockNews.com cut Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Finally, Citigroup reduced their target price on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $151.07.

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Lennar Stock Down 3.8 %

The company has a market capitalization of $27.35 billion, a P/E ratio of 7.18, a PEG ratio of 1.24 and a beta of 1.51. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $121.16 and a 200 day moving average price of $147.75.

Lennar (NYSE:LEN - Get Free Report) last issued 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 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 quarter last year, the business earned $2.57 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio is presently 14.57%.

Institutional Investors Weigh In On Lennar

A number of institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its holdings in Lennar by 9.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 11,671 shares of the construction company's stock worth $1,340,000 after acquiring an additional 1,047 shares during the period. Asset Management Advisors LLC increased its holdings in Lennar by 3.3% in the first quarter. Asset Management Advisors LLC now owns 55,122 shares of the construction company's stock worth $6,327,000 after purchasing an additional 1,780 shares in the last quarter. Delphi Management Inc. MA lifted its stake in Lennar by 10.1% in the first quarter. Delphi Management Inc. MA now owns 9,388 shares of the construction company's stock valued at $1,078,000 after buying an additional 859 shares during the period. Rothschild Investment LLC boosted its holdings in shares of Lennar by 24.4% during the 1st quarter. Rothschild Investment LLC now owns 755 shares of the construction company's stock worth $87,000 after buying an additional 148 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new stake in shares of Lennar during the 1st quarter worth approximately $38,000. 81.10% of the stock is owned by institutional investors.

About Lennar

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.