Lennar (NYSE:LEN) Lifted to “Outperform” at Zelman & Associates

Zelman & Associates upgraded shares of Lennar (NYSE:LEN) from a neutral rating to an outperform rating in a report published on Monday, MarketBeat reports.

LEN has been the topic of several other reports. Wedbush reissued a neutral rating and issued a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, September 19th. The Goldman Sachs Group cut shares of Lennar from a buy rating to a neutral rating and decreased their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. BTIG Research dropped their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating on the stock in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an outperform rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $181.94.

Lennar Stock Performance

Shares of LEN opened at $183.13 on Monday. The firm has a 50-day moving average price of $177.67 and a 200 day moving average price of $164.42. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $50.29 billion, a PE ratio of 12.45, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.91 earnings per share. On average, sell-side analysts anticipate that Lennar will post 14.13 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is presently 13.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lakewood Asset Management LLC increased its holdings in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after buying an additional 70 shares during the period. NorthCrest Asset Manangement LLC increased its stake in Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares during the period. Aaron Wealth Advisors LLC lifted its stake in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares in the last quarter. Finally, BBR Partners LLC grew its stake in shares of Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the period. 81.10% of the stock is owned by 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.