Lennar (NYSE:LEN) Price Target Raised to $120.00

Lennar (NYSE:LEN – Get Rating) had its price target boosted by BTIG Research from $116.00 to $120.00 in a report released on Thursday, The Fly reports.

Other research analysts have also issued reports about the company. Bank of America upgraded Lennar from an underperform rating to a neutral rating and upped their target price for the company from $92.00 to $102.00 in a research note on Wednesday, January 11th. Oppenheimer began coverage on Lennar in a research note on Wednesday, March 1st. They issued a market perform rating for the company. StockNews.com began coverage on Lennar in a research note on Thursday. They set a buy rating for the company. JPMorgan Chase & Co. increased their price objective on Lennar from $73.00 to $97.00 and gave the stock a neutral rating in a research note on Tuesday, November 22nd. Finally, Royal Bank of Canada lowered Lennar from a sector perform rating to an underperform rating and dropped their price objective for the stock from $79.00 to $76.00 in a research note on Friday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of Hold and a consensus price target of $102.07.

Lennar Stock Down 0.7 %

LEN opened at $103.50 on Thursday. The business has a 50 day moving average of $99.53 and a 200-day moving average of $88.47. The company has a current ratio of 7.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 6.42, a P/E/G ratio of 1.92 and a beta of 1.42. Lennar has a 1-year low of $62.54 and a 1-year high of $109.28.

Lennar (NYSE:LEN – Get Rating) last issued its earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.56. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $5.99 billion. Lennar had a return on equity of 21.18% and a net margin of 13.86%. Lennar’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.70 earnings per share. As a group, sell-side analysts anticipate that Lennar will post 9.19 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 26th. Lennar’s payout ratio is presently 9.30%.

Institutional Trading of Lennar

Several large investors have recently made changes to their positions in LEN. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Lennar by 10.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,184 shares of the construction company’s stock worth $989,000 after purchasing an additional 1,173 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of Lennar by 6.8% during the first quarter. Cibc World Market Inc. now owns 9,499 shares of the construction company’s stock worth $771,000 after purchasing an additional 602 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Lennar by 172.1% in the first quarter. Vontobel Holding Ltd. now owns 14,925 shares of the construction company’s stock valued at $1,256,000 after acquiring an additional 9,440 shares during the last quarter. Prudential PLC bought a new position in Lennar in the first quarter valued at about $1,711,000. Finally, Moors & Cabot Inc. bought a new position in Lennar in the first quarter valued at about $200,000. Institutional investors own 82.68% of the company’s stock.

Lennar Company Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.