Lennar (NYSE:LEN) Price Target Lowered to $150.00 at Citigroup

Lennar (NYSE:LEN) had its price target cut by Citigroup from $196.00 to $150.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research firms also recently issued reports on LEN. Bank Of America (Bofa) increased their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays reduced their target price on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, UBS Group reduced their price target on Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.31.

Lennar Trading Down 0.7 %

NYSE LEN opened at $134.97 on Monday. Lennar has a 12 month low of $133.72 and a 12 month high of $193.80. The company has a 50-day moving average of $159.47 and a 200-day moving average of $168.30. The company has a market cap of $36.61 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.28 and a beta of 1.66. 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 released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the company earned $4.82 earnings per share. The company’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, equities analysts predict that Lennar will post 14.11 earnings per share for the current year.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. grew its position in shares of Lennar by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after buying an additional 66 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after purchasing an additional 71 shares during the last quarter. Commerce Bank raised its position in shares of Lennar by 0.5% during the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after purchasing an additional 74 shares during the period. Jupiter Wealth Management LLC lifted its holdings in shares of Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in Lennar by 5.4% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,510 shares of the construction company’s stock valued at $283,000 after purchasing an additional 77 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.