Lennar (NYSE:LEN) Given New $192.00 Price Target at UBS Group

Lennar (NYSE:LEN) had its target price dropped by UBS Group from $205.00 to $192.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price suggests a potential upside of 46.42% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Citigroup dropped their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday. Wedbush reiterated a “neutral” rating and set a $164.00 price target on shares of Lennar in a report on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Keefe, Bruyette & Woods cut their price objective on Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.50.

Lennar Stock Performance

LEN traded down $2.01 during trading hours on Wednesday, hitting $131.13. The company’s stock had a trading volume of 78,342 shares, compared to its average volume of 1,778,192. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar has a fifty-two week low of $131.13 and a fifty-two week high of $193.80. The company has a 50-day simple moving average of $158.72 and a 200 day simple moving average of $168.17. The firm has a market capitalization of $35.57 billion, a PE ratio of 8.68, a PEG ratio of 1.28 and a beta of 1.66.

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

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Large investors have recently made changes to their positions in the stock. D1 Capital Partners L.P. boosted its stake 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 during the period. Holocene Advisors LP bought a new position in shares of Lennar during the third quarter worth about $115,229,000. Nordea Investment Management AB raised its position in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after acquiring an additional 396,951 shares in the last quarter. Finally, KBC Group NV grew its stake 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 worth $92,774,000 after acquiring an additional 356,731 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

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.