Lennar (NYSE:LEN) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Lennar (NYSE:LEN) in a research note published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $183.00 price objective on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group increased their price objective on shares of Lennar from $190.00 to $198.00 and gave the company a buy rating in a report on Friday, March 15th. JMP Securities reissued a market outperform rating and issued a $170.00 target price on shares of Lennar in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lennar from $110.00 to $122.00 and gave the company a sell rating in a report on Thursday, March 14th. Evercore ISI raised their target price on shares of Lennar from $224.00 to $238.00 and gave the company an outperform rating in a report on Friday, March 15th. Finally, Barclays raised their target price on shares of Lennar from $173.00 to $180.00 and gave the company an overweight rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $166.80.

Lennar Trading Down 5.0 %

Shares of LEN opened at $148.76 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a 50 day simple moving average of $157.06 and a two-hundred day simple moving average of $154.86. The firm has a market cap of $41.41 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio is currently 14.02%.

Insider Activity

In related news, Director Amy Banse bought 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Amy Banse bought 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of Lennar

Hedge funds have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC lifted its stake in Lennar by 177.3% in the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after acquiring an additional 19,985 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in Lennar in the fourth quarter worth about $838,000. Coastline Trust Co raised its holdings in Lennar by 80.8% in the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after purchasing an additional 10,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Lennar by 53.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after purchasing an additional 11,851 shares in the last quarter. Finally, Warther Private Wealth LLC bought a new position in Lennar in the fourth quarter worth about $3,356,000. 81.10% of the stock is owned by hedge funds and other 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.