Lennar (NYSE:LEN) Given New $120.00 Price Target at The Goldman Sachs Group

Lennar (NYSE:LEN - Free Report) had its price objective trimmed by The Goldman Sachs Group from $141.00 to $120.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company's stock.

Several other analysts have also weighed in on LEN. Wedbush reaffirmed a "neutral" rating and set a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Royal Bank of Canada dropped their price target on Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a report on Monday, March 24th. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Keefe, Bruyette & Woods lowered their target price on Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a research note on Tuesday. Finally, UBS Group reduced their price target on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $151.07.

Lennar Price Performance

NYSE LEN traded down $4.15 during trading on Tuesday, reaching $113.83. 3,553,781 shares of the company traded hands, compared to its average volume of 2,479,698. Lennar has a 1-year low of $111.26 and a 1-year high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock's 50 day moving average price is $124.05 and its two-hundred day moving average price is $151.33. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69.

Remove Ads

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.57 earnings per share. As a group, analysts anticipate that Lennar will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Hedge Funds Weigh In On Lennar

Several hedge funds have recently added to or reduced their stakes in LEN. Great Valley Advisor Group Inc. bought a new position in Lennar during the 3rd quarter worth approximately $235,000. Kingsview Wealth Management LLC lifted its holdings in Lennar by 275.4% during the third quarter. Kingsview Wealth Management LLC now owns 5,113 shares of the construction company's stock worth $959,000 after acquiring an additional 3,751 shares in the last quarter. Swedbank AB grew its stake in Lennar by 5.4% in the third quarter. Swedbank AB now owns 164,709 shares of the construction company's stock valued at $30,880,000 after acquiring an additional 8,405 shares during the period. Centaurus Financial Inc. raised its position in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock worth $551,000 after purchasing an additional 71 shares during the period. Finally, Summit Trail Advisors LLC grew its position in shares of Lennar by 36.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,990 shares of the construction company's stock valued at $561,000 after purchasing an additional 803 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

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.