Lennar (NYSE:LEN) Given New $180.00 Price Target at Argus

Lennar (NYSE:LEN) had its price target boosted by Argus from $175.00 to $180.00 in a report issued on Thursday, Benzinga reports. Argus currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI cut their price objective on shares of Lennar from $238.00 to $237.00 and set an outperform rating on the stock in a research report on Thursday, June 20th. Citigroup decreased their price objective on shares of Lennar from $198.00 to $174.00 and set a buy rating for the company in a research note on Friday, June 21st. Oppenheimer reiterated a market perform rating on shares of Lennar in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lennar from $110.00 to $122.00 and gave the company a sell rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company increased their target price on Lennar from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of Hold and an average target price of $167.31.

Lennar Price Performance

Shares of Lennar stock opened at $149.12 on Thursday. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock has a 50 day moving average price of $156.30 and a 200-day moving average price of $155.33. Lennar has a one year low of $102.90 and a one year high of $172.59.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s payout ratio is 13.60%.

Insider Buying and Selling

In related news, Director Amy Banse purchased 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse purchased 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders sold 29,176 shares of company stock valued at $4,841,039 over the last 90 days. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after buying an additional 366,983 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Lennar by 3.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after purchasing an additional 79,217 shares in the last quarter. Nordea Investment Management AB grew its position in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after purchasing an additional 60,713 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lennar by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after purchasing an additional 8,008 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Lennar by 47.6% in the third quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after buying an additional 484,056 shares during the last quarter. Hedge funds and other institutional investors 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.