Keefe, Bruyette & Woods Reiterates “Outperform” Rating for Lennar (NYSE:LEN)

Lennar (NYSE:LEN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a report issued on Tuesday, Benzinga reports. They currently have a $183.00 target price on the construction company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.69% from the stock’s previous close.

Several other research firms also recently commented on LEN. Wells Fargo & Company increased their price objective on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. UBS Group upped their target price on Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a report on Friday, March 15th. JMP Securities reiterated a “market outperform” rating and set a $170.00 price target on shares of Lennar in a report on Friday, March 15th. Oppenheimer reiterated a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Finally, Wedbush restated an “underperform” rating and set a $144.00 target price on shares of Lennar in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $166.80.

Lennar Price Performance

NYSE LEN traded down $7.35 during mid-day trading on Tuesday, hitting $149.16. The stock had a trading volume of 3,308,939 shares, compared to its average volume of 2,045,134. The firm’s 50 day moving average is $157.40 and its 200 day moving average is $154.74. Lennar has a twelve month low of $102.90 and a twelve month high of $172.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.45 and a beta of 1.57.

Insider Buying and Selling at Lennar

In related news, Director Amy Banse bought 1,575 shares of the stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC raised its holdings in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar in the first quarter worth $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the first quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lennar in the first quarter worth $35,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Lennar in the fourth quarter worth $36,000. 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.