Lennar (NYSE:LEN) Downgraded to “Peer Perform” Rating by Wolfe Research

Wolfe Research downgraded shares of Lennar (NYSE:LEN) from an outperform rating to a peer perform rating in a research note released on Wednesday morning, MarketBeat Ratings reports.

Other equities research analysts have also issued research reports about the stock. Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) lifted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. UBS Group decreased their price objective on Lennar from $225.00 to $205.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Bank of America upped their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.50.

Lennar Stock Performance

Lennar stock opened at $133.52 on Wednesday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a market cap of $36.22 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.28 and a beta of 1.66. Lennar has a 1-year low of $130.91 and a 1-year high of $193.80. The firm has a 50-day moving average of $157.96 and a 200-day moving average of $167.93.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.82 earnings per share. Sell-side analysts expect that Lennar will post 14.11 EPS for the current year.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after purchasing an additional 149,812 shares during the last quarter. Smead Capital Management Inc. grew its position in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares during the period. Verition Fund Management LLC increased its holdings in Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after buying an additional 41,264 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Lennar by 101.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after acquiring an additional 4,363 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Lennar by 8.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock valued at $19,022,000 after acquiring an additional 8,092 shares during the period. Hedge funds and other institutional investors 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.