Lennar Co. (NYSE:LEN) Receives $166.47 Consensus Target Price from Brokerages

Shares of Lennar Co. (NYSE:LEN) have received a consensus recommendation of “Hold” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $166.69.

LEN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. UBS Group lifted their price objective on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Citigroup reaffirmed a “neutral” rating and issued a $164.00 price objective (down previously from $174.00) on shares of Lennar in a research note on Tuesday. Finally, Evercore ISI reduced their price objective on Lennar from $238.00 to $237.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th.

Lennar Stock Down 1.6 %

Shares of LEN opened at $143.61 on Wednesday. The business’s 50 day moving average is $156.11 and its 200 day moving average is $155.47. The company has a market capitalization of $39.97 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. Lennar has a 12-month low of $102.90 and a 12-month high of $172.59. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. Lennar’s dividend payout ratio is presently 13.60%.

Insider Buying and Selling

In other Lennar news, Director Amy Banse acquired 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Amy Banse purchased 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s 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 owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,176 shares of company stock worth $4,841,039. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank boosted its holdings in Lennar by 63.2% in the second quarter. First Hawaiian Bank now owns 2,843 shares of the construction company’s stock valued at $426,000 after purchasing an additional 1,101 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Lennar by 17.4% in the second quarter. Transcend Capital Advisors LLC now owns 3,793 shares of the construction company’s stock valued at $569,000 after purchasing an additional 561 shares during the period. Boston Partners boosted its holdings in Lennar by 21.5% in the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 4,207 shares during the period. Cetera Advisors LLC boosted its holdings in Lennar by 342.9% in the first quarter. Cetera Advisors LLC now owns 18,830 shares of the construction company’s stock valued at $3,238,000 after purchasing an additional 14,578 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Lennar by 54.1% in the first quarter. Cetera Investment Advisers now owns 42,797 shares of the construction company’s stock valued at $7,360,000 after purchasing an additional 15,024 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.