Lennar (NYSE:LEN) Price Target Raised to $173.00

Lennar (NYSE:LEN) had its price objective hoisted by JPMorgan Chase & Co. from $154.00 to $173.00 in a report released on Monday, Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other equities research analysts also recently commented on the company. Wedbush reissued a neutral rating and issued a $144.00 target price on shares of Lennar in a report on Friday, September 20th. Bank Of America (Bofa) increased their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a neutral rating in a research report on Friday, September 20th. Zelman & Associates raised shares of Lennar from a neutral rating to an outperform rating in a report on Monday. Bank of America increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a neutral rating in a report on Thursday, September 19th. Finally, StockNews.com raised Lennar from a hold rating to a buy rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $181.94.

Lennar Stock Up 0.7 %

NYSE:LEN opened at $183.13 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm’s 50-day moving average price is $177.67 and its 200-day moving average price is $164.42. The company has a market capitalization of $50.29 billion, a PE ratio of 12.45, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar has a 1-year low of $102.90 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the firm earned $3.91 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts predict that Lennar will post 14.13 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LEN. Gilbert & Cook Inc. increased its stake in shares of Lennar by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock worth $604,000 after purchasing an additional 211 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake 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 worth $5,056,000 after buying an additional 11,851 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Lennar by 0.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,204 shares of the construction company’s stock valued at $2,419,000 after buying an additional 125 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Lennar by 196.1% in the fourth quarter. Intech Investment Management LLC now owns 7,357 shares of the construction company’s stock worth $1,096,000 after purchasing an additional 4,872 shares during the period. Finally, 3Chopt Investment Partners LLC purchased a new position in shares of Lennar during the 4th quarter valued at $900,000. 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.