Lennar (NYSE:LEN) Stock Rating Lowered by Raymond James

Raymond James lowered shares of Lennar (NYSE:LEN) from an outperform rating to a market perform rating in a report published on Tuesday, MarketBeat reports.

A number of other equities analysts have also weighed in on the stock. Evercore ISI cut their target price on shares of Lennar from $238.00 to $237.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Argus increased their target price on shares of Lennar from $175.00 to $180.00 and gave the stock a buy rating in a research report on Thursday, June 27th. UBS Group increased their target price on shares of Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research report on Friday, March 15th. Oppenheimer reissued a market perform rating on shares of Lennar in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has a consensus rating of Hold and an average target price of $166.69.

Lennar Price Performance

Shares of NYSE:LEN opened at $143.28 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $39.88 billion, a PE ratio of 9.74, a P/E/G ratio of 1.29 and a beta of 1.60. Lennar has a twelve month low of $102.90 and a twelve month high of $172.59. The company has a 50-day moving average price of $155.65 and a two-hundred day moving average price of $155.35.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

Insider Activity at Lennar

In other Lennar news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Lennar news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the transaction, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock valued at $4,841,039 over the last three months. 9.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Assenagon Asset Management S.A. grew its holdings in shares of Lennar by 6,297.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after purchasing an additional 651,924 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after purchasing an additional 366,983 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Lennar in the first quarter worth approximately $61,807,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after purchasing an additional 351,698 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Lennar by 97.4% in the fourth quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock valued at $52,866,000 after acquiring an additional 174,981 shares in the last quarter. 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.