Lennar (NYSE:LEN) Price Target Cut to $175.00 by Analysts at BTIG Research

Lennar (NYSE:LEN) had its target price reduced by BTIG Research from $177.00 to $175.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated an underperform rating and issued a $145.00 target price on shares of Lennar in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reissued an outperform rating and set a $183.00 price target on shares of Lennar in a research note on Tuesday, June 18th. Barclays lifted their price target on Lennar from $173.00 to $180.00 and gave the company an overweight rating in a research note on Friday, March 15th. Finally, StockNews.com lowered Lennar from a buy rating to a hold rating in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Lennar currently has an average rating of Hold and a consensus target price of $166.47.

Lennar Stock Performance

Lennar stock opened at $151.55 on Thursday. Lennar has a 12-month low of $102.90 and a 12-month high of $172.59. The company has a quick ratio of 1.27, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $156.53 and its two-hundred day moving average price is $155.22. The stock has a market cap of $42.18 billion, a PE ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.56.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

Insiders Place Their Bets

In other Lennar news, Director Amy Banse bought 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was acquired 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 owns 11,859 shares in the company, valued at approximately $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lennar news, Director Amy Banse bought 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was acquired 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 owns 11,859 shares in the company, valued at approximately $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lennar

Several hedge funds and other institutional investors have recently modified their holdings of LEN. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Lennar during the third quarter valued at approximately $491,000. V Square Quantitative Management LLC bought a new stake in shares of Lennar during the third quarter valued at approximately $187,000. Clearbridge Investments LLC increased its holdings in shares of Lennar by 4.5% during the third quarter. Clearbridge Investments LLC now owns 28,563 shares of the construction company’s stock valued at $3,206,000 after acquiring an additional 1,230 shares in the last quarter. LPL Financial LLC grew its holdings in Lennar by 15.9% during the third quarter. LPL Financial LLC now owns 110,053 shares of the construction company’s stock worth $12,351,000 after buying an additional 15,136 shares in the last quarter. Finally, Mariner LLC grew its holdings in Lennar by 2.5% during the third quarter. Mariner LLC now owns 72,196 shares of the construction company’s stock worth $8,103,000 after buying an additional 1,745 shares in the last quarter. 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.