Lennar (NYSE:LEN) Price Target Cut to $110.00 by Analysts at Wells Fargo & Company

Lennar (NYSE:LEN - Free Report) had its target price decreased by Wells Fargo & Company from $120.00 to $110.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the construction company's stock.

LEN has been the subject of a number of other research reports. The Goldman Sachs Group cut their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Wolfe Research downgraded Lennar from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. UBS Group dropped their price target on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $150.07.

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Lennar Stock Up 0.6 %

Shares of Lennar stock traded up $0.63 on Wednesday, reaching $105.87. The stock had a trading volume of 1,984,875 shares, compared to its average volume of 3,489,235. Lennar has a 1 year low of $98.42 and a 1 year high of $193.80. The company has a 50 day moving average price of $118.05 and a 200 day moving average price of $144.73. 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 capitalization of $27.93 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.24 and a beta of 1.51.

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 for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.57 earnings per share. As a group, equities research analysts forecast that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. Lennar's dividend payout ratio is currently 14.57%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LEN. Armstrong Advisory Group Inc. raised its position in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 75 shares during the last quarter. Crews Bank & Trust acquired a new position in Lennar in the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new stake in shares of Lennar during the fourth quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lennar in the fourth quarter valued at $28,000. Finally, Ameriflex Group Inc. acquired a new position in Lennar in the fourth quarter valued at $30,000. 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.