Keefe, Bruyette & Woods Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $141.00 to $128.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 8.56% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut 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. Royal Bank of Canada dropped their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. UBS Group lowered their target price on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays reduced their price target on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Performance

LEN opened at $117.90 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar has a 52-week low of $111.26 and a 52-week high of $187.61. The firm has a market cap of $31.31 billion, a P/E ratio of 8.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The business’s fifty day moving average is $125.06 and its 200-day moving average is $152.03.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. Sell-side analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Trading of Lennar

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Lennar by 3.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock worth $834,115,000 after purchasing an additional 213,003 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after buying an additional 73,638 shares during the period. Pacer Advisors Inc. boosted its position in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after acquiring an additional 589,553 shares during the last quarter. Wellington Management Group LLP grew its holdings in Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after acquiring an additional 515,378 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Lennar by 21.4% in the 4th 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 in the last quarter. 81.10% of the stock is currently owned by 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.