Lennar’s (LEN) Neutral Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Lennar (NYSE:LEN) in a report issued on Monday, MarketBeat reports. The brokerage currently has a $158.00 target price on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lowered their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. UBS Group dropped their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their target price on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Citigroup dropped their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $164.53.

Lennar Stock Performance

NYSE LEN opened at $120.55 on Monday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar has a twelve month low of $115.61 and a twelve month high of $187.61. The stock has a 50-day moving average of $126.66 and a 200 day moving average of $154.18. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. During the same quarter last year, the business earned $4.82 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

Institutional Investors Weigh In On Lennar

A number of institutional investors have recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its position in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Lennar in the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in shares of Lennar in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in Lennar during the 4th quarter worth approximately $28,000. Finally, Ameriflex Group Inc. purchased a new position in Lennar in the 4th quarter valued at approximately $30,000. 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.