Lennar (NYSE:LEN) Given New $114.00 Price Target at Keefe, Bruyette & Woods

Lennar (NYSE:LEN - Free Report) had its target price cut by Keefe, Bruyette & Woods from $128.00 to $114.00 in a research report report published on Friday,Benzinga reports. They currently have a market perform rating on the construction company's stock.

LEN has been the topic of a number of other reports. UBS Group dropped their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday. Royal Bank Of Canada dropped their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday. Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Finally, Wall Street Zen raised Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lennar has an average rating of "Hold" and an average price target of $132.50.

Lennar Stock Performance

Shares of LEN traded up $2.95 during mid-day trading on Friday, reaching $106.36. 5,779,425 shares of the company's stock traded hands, compared to its average volume of 2,669,522. Lennar has a 12 month low of $98.42 and a 12 month high of $187.61. The stock has a market capitalization of $28.06 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.90 and a beta of 1.33. The business's 50-day moving average price is $107.78 and its 200-day moving average price is $121.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.68 and a current ratio of 3.65.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The company's revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.45 EPS. Equities analysts predict that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. Lennar's dividend payout ratio is presently 16.54%.

Institutional Investors Weigh In On Lennar

A number of large investors have recently made changes to their positions in LEN. Hurley Capital LLC purchased a new stake in shares of Lennar in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in Lennar during the fourth quarter valued at $28,000. Ameriflex Group Inc. purchased a new stake in Lennar in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in Lennar during the 1st quarter worth about $30,000. Finally, NBC Securities Inc. purchased a new position in Lennar during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 81.10% of the company's stock.

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.