Lennar (NYSE:LEN) Given New $126.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target for Lennar from $122.00 to $126.00 while maintaining a "neutral" rating, indicating a potential upside of 2.42% from the current price.
• Institutional investors hold approximately 81.10% of Lennar's stock, with several funds increasing their stakes significantly in the recent quarters.
• Lennar's latest earnings report showed EPS of $2.29, surpassing estimates, but revenue decreased by 6.4% compared to the previous year, amounting to $8.81 billion for the quarter.

Lennar (NYSE:LEN - Get Free Report) had its price objective increased by The Goldman Sachs Group from $122.00 to $126.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a "neutral" rating on the construction company's stock. The Goldman Sachs Group's price objective suggests a potential upside of 2.42% from the company's current price.

Several other equities analysts have also issued reports on LEN. Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Citigroup reissued an "outperform" rating on shares of Lennar in a report on Monday. Barclays reduced their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Zacks Research raised Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Royal Bank Of Canada increased their price objective on Lennar from $98.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $123.75.

Lennar Trading Up 0.9%

Shares of LEN stock opened at $123.02 on Tuesday. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $126.15 and its 200-day moving average price is $115.89. Lennar has a twelve month low of $98.42 and a twelve month high of $189.65. The stock has a market cap of $31.86 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 5.40 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same period in the prior year, the business posted $3.90 EPS. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that Lennar will post 12.48 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after buying an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Lennar in the second quarter valued at $424,950,000. Viking Global Investors LP increased its position in shares of Lennar by 86.7% in the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Brave Warrior Advisors LLC grew its stake in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after purchasing an additional 415,218 shares in the last quarter. Finally, Eminence Capital LP grew its position in shares of Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after acquiring an additional 896,264 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.

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