Lennar (NYSE:LEN) Stock Price Target Raised at Wells Fargo & Company

Lennar (NYSE:LEN) had its target price lifted by research analysts at Wells Fargo & Company from $75.00 to $80.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 7.99% from the stock’s previous close.

LEN has been the subject of several other reports. Citizens Jmp reiterated a “hold” rating on shares of Lennar in a research note on Thursday, September 17th. BTIG Research reissued a “sell” rating and issued a $63.00 price target on shares of Lennar in a research note on Friday, September 18th. Seaport Research Partners lowered their price target on Lennar from $74.00 to $70.00 and set a “sell” rating for the company in a report on Monday, September 21st. Truist Financial dropped their price objective on shares of Lennar from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, September 16th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $85.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, Lennar presently has an average rating of “Strong Sell” and a consensus target price of $79.33.

Lennar Trading Up 0.0%

Shares of Lennar stock opened at $86.95 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.94 and a quick ratio of 0.69. The business has a 50 day moving average price of $81.09 and a 200 day moving average price of $91.59. The company has a market capitalization of $20.69 billion, a P/E ratio of 16.44, a P/E/G ratio of 3.26 and a beta of 1.36. Lennar has a 1 year low of $71.78 and a 1 year high of $133.76.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period last year, the firm earned $2.00 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Lennar will post 4.88 EPS for the current fiscal year.

Insider Transactions at Lennar

In other Lennar news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of Lennar stock in a transaction on Friday, October 2nd. The shares were purchased at an average cost of $79.44 per share, with a total value of $135,691,066.80. Following the completion of the transaction, the insider directly owned 28,438,045 shares in the company, valued at approximately $2,259,118,294.80. This represents a 6.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 7,502,276 shares of company stock worth $595,303,287. 10.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Polaris Financial Partners acquired a new stake in Lennar in the 3rd quarter valued at $27,000. Phillip James Consulting Co. acquired a new position in shares of Lennar during the first quarter worth about $30,000. Global Assets Advisory LLC acquired a new stake in shares of Lennar in the first quarter valued at about $39,000. GK Wealth Management LLC acquired a new stake in shares of Lennar in the third quarter valued at about $42,000. Finally, Anchor Investment Management LLC raised its holdings in shares of Lennar by 1,276.4% during the 2nd quarter. Anchor Investment Management LLC now owns 757 shares of the construction company’s stock valued at $69,000 after buying an additional 702 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.