Lennar’s (LEN) Underperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their underperform rating on shares of Lennar (NYSE:LEN) in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $145.00 target price on the construction company’s stock.

LEN has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $183.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. Evercore ISI dropped their price objective on shares of Lennar from $238.00 to $237.00 and set an outperform rating on the stock in a research note on Thursday. Oppenheimer reiterated a market perform rating on shares of Lennar in a report on Friday, March 15th. Wedbush reiterated an underperform rating and issued a $144.00 target price on shares of Lennar in a report on Tuesday, June 18th. Finally, UBS Group increased their target price on shares of Lennar from $190.00 to $198.00 and gave the company a buy rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $166.47.

Lennar Stock Up 1.5 %

Lennar stock opened at $151.55 on Thursday. Lennar has a 1-year low of $102.90 and a 1-year high of $172.59. The firm has a market capitalization of $42.18 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.56. The firm’s fifty day moving average price is $156.53 and its two-hundred day moving average price is $155.22. The company has a current ratio of 4.93, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Buying and Selling

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares in the company, valued at $20,927,938.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares in the company, valued at $20,927,938.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction dated Monday, May 20th. The stock was 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 of the company’s stock, valued at approximately $2,764,707.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,176 shares of company stock worth $4,841,039. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

Large investors have recently modified their holdings of the company. Integrated Advisors Network LLC boosted its position in shares of Lennar by 177.3% in the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after acquiring an additional 19,985 shares during the period. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Lennar by 331.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after acquiring an additional 9,246 shares during the period. Grayhawk Investment Strategies Inc. bought a new position in shares of Lennar in the fourth quarter valued at approximately $838,000. Coastline Trust Co boosted its position in shares of Lennar by 80.8% in the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock valued at $3,654,000 after acquiring an additional 10,957 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Lennar by 53.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock valued at $5,056,000 after acquiring an additional 11,851 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.