Lennar (NYSE:LEN) Given New $118.00 Price Target at The Goldman Sachs Group

Lennar (NYSE:LEN) had its target price reduced by The Goldman Sachs Group from $125.00 to $118.00 in a research report report published on Thursday,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on the company. Evercore downgraded Lennar from an “in-line” rating to an “underperform” rating and cut their price target for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. BTIG Research set a $90.00 price objective on Lennar in a research report on Thursday, December 18th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Reduce” and an average target price of $106.14.

Lennar Trading Down 2.8%

Shares of LEN traded down $2.87 during midday trading on Thursday, hitting $101.43. 2,952,356 shares of the stock were exchanged, compared to its average volume of 2,184,519. Lennar has a 52-week low of $98.42 and a 52-week high of $144.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. The stock has a fifty day simple moving average of $113.21 and a 200 day simple moving average of $120.98. The firm has a market cap of $25.05 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.51 and a beta of 1.43.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. Lennar’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.03 EPS. On average, research analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. Lennar’s dividend payout ratio is presently 25.03%.

Institutional Trading of Lennar

A number of large investors have recently made changes to their positions in LEN. Lazard Asset Management LLC increased its position in Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the period. Zions Bancorporation National Association UT grew its position in shares of Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after acquiring an additional 86 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Lennar by 2.1% in the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after acquiring an additional 87 shares during the period. Rossby Financial LCC raised its position in Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock worth $201,000 after purchasing an additional 93 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.