Lennar (NYSE:LEN) Given New $180.00 Price Target at Argus

Lennar (NYSE:LEN) had its target price upped by Argus from $175.00 to $180.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other brokerages have also commented on LEN. UBS Group increased their price target on shares of Lennar from $190.00 to $198.00 and gave the company a buy rating in a research note on Friday, March 15th. Wells Fargo & Company increased their price target on shares of Lennar from $165.00 to $175.00 and gave the company an overweight rating in a research note on Friday, March 15th. Oppenheimer reiterated a market perform rating on shares of Lennar in a research note on Friday, March 15th. JMP Securities reiterated a market outperform rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Lennar from $110.00 to $122.00 and gave the company a sell rating in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $167.31.

Lennar Stock Up 0.5 %

LEN stock opened at $149.87 on Thursday. The company’s 50 day moving average price is $156.22 and its 200 day moving average price is $155.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The firm has a market capitalization of $41.71 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.35 and a beta of 1.56.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. Lennar’s dividend payout ratio (DPR) is 13.60%.

Insiders Place Their Bets

In related news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,176 shares of company stock worth $4,841,039. Corporate insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Lennar by 6,297.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after purchasing an additional 651,924 shares during the last quarter. AQR Capital Management LLC raised its stake in Lennar by 47.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock valued at $168,486,000 after purchasing an additional 484,056 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Lennar by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after purchasing an additional 366,983 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Lennar during the 1st quarter valued at about $61,807,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after acquiring an additional 351,698 shares during the last quarter. Institutional investors and hedge funds 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.