Keefe, Bruyette & Woods Cuts Lennar (NYSE:LEN) Price Target to $128.00

Lennar (NYSE:LEN) had its price objective decreased by Keefe, Bruyette & Woods from $141.00 to $128.00 in a research note released on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the construction company’s stock.

Several other research analysts also recently weighed in on LEN. Citigroup lowered their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays lowered their target price on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday. The Goldman Sachs Group cut their price target on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Bank of America lowered their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. decreased their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Price Performance

LEN stock opened at $118.09 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company’s 50-day moving average is $124.60 and its 200-day moving average is $151.79. The stock has a market capitalization of $31.35 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar has a 1 year low of $111.26 and a 1 year high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 earnings per share. Equities research analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.69%. Lennar’s payout ratio is currently 14.57%.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently bought and sold shares of LEN. Crews Bank & Trust purchased a new position in shares of Lennar during the 4th quarter valued at $25,000. Armstrong Advisory Group Inc. lifted its holdings in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Hurley Capital LLC bought a new position in Lennar during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Lennar in the fourth quarter worth about $28,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lennar during the 3rd quarter valued at approximately $39,000. 81.10% of the stock is owned by institutional investors.

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.