Lennar (NYSE:LEN) Earns “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of Lennar (NYSE:LEN) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $144.00 price objective on the construction company’s stock.

LEN has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. Citigroup reissued a neutral rating and issued a $164.00 price objective (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their target price on Lennar from $183.00 to $230.00 and gave the stock an outperform rating in a report on Wednesday, September 4th. Bank of America upped their price objective on Lennar from $171.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, September 19th. Finally, Raymond James lowered shares of Lennar from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $179.72.

Lennar Price Performance

Shares of NYSE LEN opened at $185.77 on Friday. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The company has a market cap of $51.01 billion, a PE ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The business has a 50-day simple moving average of $177.07 and a two-hundred day simple moving average of $164.16.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the business posted $3.91 EPS. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Lennar will post 14.16 EPS for the current fiscal year.

Institutional Trading of Lennar

A number of hedge funds have recently added to or reduced their stakes in LEN. Pacer Advisors Inc. raised its stake in Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the period. D1 Capital Partners L.P. raised its position in shares of Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares during the period. Marshall Wace LLP boosted its holdings in Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after acquiring an additional 348,553 shares during the last quarter. Nordea Investment Management AB grew its position in Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after acquiring an additional 60,713 shares during the period. Finally, Eminence Capital LP increased its stake in Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.