Lennar (NYSE:LEN) Price Target Raised to $210.00 at Barclays

Lennar (NYSE:LEN) had its target price increased by Barclays from $177.00 to $210.00 in a research note published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Several other equities research analysts have also recently weighed in on LEN. Citigroup reiterated a neutral rating and issued a $164.00 price objective (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $157.00 to $154.00 and set a neutral rating for the company in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price target on shares of Lennar from $145.00 to $160.00 and gave the company an underperform rating in a research report on Monday. Zelman & Associates upgraded shares of Lennar from a neutral rating to an outperform rating in a report on Monday. Finally, Bank Of America (Bofa) increased their target price on Lennar from $171.00 to $190.00 and gave the stock a neutral rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Lennar presently has a consensus rating of Hold and an average price target of $181.94.

Lennar Price Performance

Shares of Lennar stock opened at $183.13 on Monday. The stock has a market capitalization of $50.29 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Lennar has a one year low of $102.90 and a one year high of $193.80. 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 business’s 50 day simple moving average is $177.67 and its two-hundred day simple moving average is $164.42.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts forecast that Lennar will post 14.13 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders 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 of this dividend is Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

Institutional Investors Weigh In On Lennar

Institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. lifted its stake in Lennar by 5.5% during the 2nd quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after acquiring an additional 149 shares during the period. Sanctuary Advisors LLC bought a new position in Lennar during the second quarter valued at approximately $6,069,000. Clearbridge Investments LLC grew its position in Lennar by 21.1% in the 2nd quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after purchasing an additional 28,938 shares during the period. Delphi Management Inc. MA raised its stake in Lennar by 3.4% during the 2nd quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock valued at $1,608,000 after buying an additional 352 shares during the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in shares of Lennar during the 2nd quarter valued at $904,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.