Lennar Corporation (NYSE:LEN – Get Free Report) has received an average recommendation of “Reduce” from the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $92.1333.
Several equities research analysts have recently commented on LEN shares. Truist Financial decreased their price target on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a report on Friday, June 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. BTIG Research set a $67.00 target price on Lennar in a research note on Monday, June 15th. Finally, Bank of America reduced their target price on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th.
Read Our Latest Research Report on Lennar
Lennar Trading Up 0.1%
Lennar (NYSE:LEN – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. As a group, equities research analysts anticipate that Lennar will post 5.52 earnings per share for the current year.
Lennar Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio is currently 31.30%.
Hedge Funds Weigh In On Lennar
Several institutional investors and hedge funds have recently bought and sold shares of LEN. Brighton Jones LLC increased its holdings in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after acquiring an additional 3,177 shares during the last quarter. Jump Financial LLC grew its position in Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock valued at $2,834,000 after acquiring an additional 3,345 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Lennar during the second quarter worth about $47,000. Finally, Daiwa Securities Group Inc. increased its stake in Lennar by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after acquiring an additional 1,544 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.
Lennar Company Profile
Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.
In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.
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