Lennar (NYSE:LEN) Given New $146.00 Price Target at UBS Group

Lennar (NYSE:LEN) had its price target trimmed by UBS Group from $164.00 to $146.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company reduced their price objective on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Wedbush reaffirmed a “neutral” rating and set a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, The Goldman Sachs Group reduced their price target on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Sixteen analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $132.50.

Lennar Stock Performance

Shares of NYSE LEN opened at $106.36 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.68 and a current ratio of 3.65. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 2.82 and a beta of 1.33. The business’s 50-day simple moving average is $107.78 and its 200-day simple moving average is $121.62. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61.

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

Lennar Dividend Announcement

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

Institutional Trading of Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. Brighton Jones LLC increased its position in shares of Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Lennar by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 43,609 shares of the construction company’s stock valued at $5,898,000 after purchasing an additional 560 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Lennar by 3.5% in the fourth quarter. CIBC Asset Management Inc now owns 37,007 shares of the construction company’s stock valued at $5,047,000 after purchasing an additional 1,263 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Lennar in the fourth quarter valued at approximately $49,000. Finally, Lyell Wealth Management LP boosted its stake in shares of Lennar by 5.8% in the fourth quarter. Lyell Wealth Management LP now owns 83,161 shares of the construction company’s stock valued at $11,341,000 after buying an additional 4,538 shares during the period. Institutional investors and hedge funds 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.