The Goldman Sachs Group Lowers Lennar (NYSE:LEN) Price Target to $162.00

Lennar (NYSE:LEN) had its target price decreased by The Goldman Sachs Group from $190.00 to $162.00 in a research note issued to investors on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. UBS Group cut their target price on shares of Lennar from $225.00 to $205.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Barclays reduced their price objective on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $175.19.

Lennar Trading Down 0.1 %

Lennar stock opened at $138.00 on Monday. Lennar has a 12-month low of $135.21 and a 12-month high of $193.80. The stock has a market capitalization of $37.43 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The firm has a 50 day simple moving average of $168.98 and a 200-day simple moving average of $169.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.82 earnings per share. As a group, equities research analysts expect that Lennar will post 14.11 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of Lennar

Institutional investors have recently added to or reduced their stakes in the business. Oakworth Capital Inc. bought a new position in shares of Lennar during the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in Lennar during the third quarter valued at about $30,000. Asset Dedication LLC boosted its stake in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in shares of Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Company Profile

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.