Lennar (NYSE:LEN) Price Target Cut to $174.00 by Analysts at Citigroup

Lennar (NYSE:LEN) had its target price trimmed by Citigroup from $198.00 to $174.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on LEN. StockNews.com lowered Lennar from a buy rating to a hold rating in a report on Wednesday. BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a buy rating on the stock in a report on Thursday. UBS Group upped their target price on Lennar from $190.00 to $198.00 and gave the company a buy rating in a report on Friday, March 15th. Evercore ISI lowered their target price on Lennar from $238.00 to $237.00 and set an outperform rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a report on Thursday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $166.47.

Lennar Trading Up 1.5 %

Shares of LEN stock opened at $151.55 on Friday. The business’s fifty day moving average price is $156.53 and its 200 day moving average price is $154.92. Lennar has a 1-year low of $102.90 and a 1-year high of $172.59. The firm has a market capitalization of $42.18 billion, a PE ratio of 10.30, a P/E/G ratio of 1.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 1.27.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.32%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Buying and Selling

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at approximately $20,179,979.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy Banse acquired 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lennar

Large investors have recently modified their holdings of the company. Integrated Advisors Network LLC raised its holdings in shares of Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after purchasing an additional 19,985 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Lennar during the 4th quarter valued at about $838,000. Coastline Trust Co raised its holdings in shares of Lennar by 80.8% during the 4th quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock valued at $3,654,000 after buying an additional 10,957 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Lennar by 53.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock valued at $5,056,000 after buying an additional 11,851 shares during the period. Finally, Warther Private Wealth LLC purchased a new stake in shares of Lennar during the 4th quarter valued at about $3,356,000. 81.10% of the stock is currently 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.