Lennar (NYSE:LEN) Hits New 52-Week Low – Time to Sell?

Shares of Lennar Co. (NYSE:LEN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $108.22 and last traded at $108.38, with a volume of 935716 shares trading hands. The stock had previously closed at $115.66.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reduced their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 25th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 price target (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. UBS Group lowered their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, The Goldman Sachs Group cut their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Trading Up 2.3 %

The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $121.78 and its 200-day moving average price is $148.91. The stock has a market capitalization of $29.44 billion, a PE ratio of 7.73, a PEG ratio of 1.24 and a beta of 1.51.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. On average, sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its position in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in Lennar by 51.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Howard Capital Management Inc. raised its holdings in shares of Lennar by 0.3% during the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock worth $3,932,000 after acquiring an additional 81 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in shares of Lennar by 2.1% during the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock valued at $584,000 after acquiring an additional 87 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Lennar by 1.7% in the third quarter. Coldstream Capital Management Inc. now owns 5,546 shares of the construction company’s stock valued at $1,036,000 after purchasing an additional 92 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.