Evercore ISI Cuts Lennar (NYSE:LEN) Price Target to $114.00

Lennar (NYSE:LEN) had its target price decreased by Evercore ISI from $131.00 to $114.00 in a research report report published on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the construction company’s stock.

LEN has been the subject of several other research reports. Wall Street Zen raised Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. The Goldman Sachs Group decreased their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Wedbush reiterated a “neutral” rating and set a $130.00 price target on shares of Lennar in a report on Wednesday. Zelman & Associates downgraded shares of Lennar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.50.

Lennar Trading Up 2.9%

NYSE:LEN opened at $106.36 on Wednesday. The firm has a market capitalization of $28.06 billion, a P/E ratio of 8.80, a P/E/G ratio of 2.82 and a beta of 1.33. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a quick ratio of 0.68, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $107.78 and a 200 day moving average of $121.62.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. Lennar’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.45 EPS. On average, research analysts predict that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.88%. Lennar’s payout ratio is currently 16.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in Lennar by 10.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company’s stock valued at $1,006,000 after purchasing an additional 672 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Lennar by 29.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 82,572 shares of the construction company’s stock valued at $11,246,000 after purchasing an additional 18,800 shares during the period. Candriam S.C.A. lifted its stake in shares of Lennar by 47.9% during the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company’s stock valued at $2,407,000 after buying an additional 5,718 shares in the last quarter. TrueMark Investments LLC bought a new position in Lennar in the 4th quarter worth $1,331,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Lennar by 4.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 99,900 shares of the construction company’s stock worth $13,623,000 after buying an additional 4,000 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

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.