StockNews.com Lowers Lennar (NYSE:LEN) to Hold

StockNews.com downgraded shares of Lennar (NYSE:LEN) from a buy rating to a hold rating in a report published on Wednesday morning.

LEN has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $183.00 target price on shares of Lennar in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Lennar from $161.00 to $157.00 and set a neutral rating on the stock in a research note on Monday, March 18th. Citigroup boosted their price target on shares of Lennar from $179.00 to $198.00 and gave the stock a buy rating in a report on Friday, April 5th. JMP Securities reiterated a market outperform rating and set a $170.00 price target on shares of Lennar in a report on Friday, March 15th. Finally, UBS Group boosted their price target on shares of Lennar from $190.00 to $198.00 and gave the stock a buy rating in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $166.80.

Lennar Price Performance

Shares of LEN opened at $148.72 on Wednesday. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The firm’s 50 day moving average price is $156.90 and its 200 day moving average price is $154.82. The company has a market cap of $41.39 billion, a P/E ratio of 10.11, a PEG ratio of 1.46 and a beta of 1.56. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Tuesday, April 23rd. Lennar’s payout ratio is 13.60%.

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 acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. In the last quarter, insiders sold 29,176 shares of company stock worth $4,841,039. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Large investors have recently bought and sold shares of the business. Rise Advisors LLC raised its position in Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in Lennar during the 1st quarter worth $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar during the 1st quarter worth $32,000. Redmont Wealth Advisors LLC purchased a new position in Lennar during the 1st quarter worth $35,000. Finally, Criterion Capital Advisors LLC purchased a new position in Lennar during the 4th quarter worth $36,000. 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.