Lennar (NYSE:LEN) Stock Rating Lowered by Wolfe Research

Lennar (NYSE:LEN) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday, MarketBeat reports.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Barclays reduced their target price on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.50.

Lennar Stock Up 0.3 %

Shares of NYSE LEN opened at $133.52 on Wednesday. The stock has a 50 day moving average price of $157.23 and a 200 day moving average price of $167.69. The firm has a market capitalization of $36.22 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.28 and a beta of 1.66. Lennar has a 52-week low of $130.91 and a 52-week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

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

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated 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 trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is owned by corporate insiders.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently bought and sold shares of LEN. D1 Capital Partners L.P. boosted its position in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after purchasing an additional 1,962,447 shares in the last quarter. Holocene Advisors LP acquired a new stake in Lennar during the third quarter valued at $115,229,000. Nordea Investment Management AB raised its position in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after acquiring an additional 397,492 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after acquiring an additional 356,731 shares during the period. 81.10% of the stock is 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.