Lennar (NYSE:LEN – Get Free Report) had its target price cut by analysts at UBS Group from $225.00 to $205.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price objective indicates a potential upside of 48.46% from the company’s previous close.
A number of other equities analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Evercore ISI dropped their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Bank of America lifted their target price 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, Wells Fargo & Company lowered their target price on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and an average target price of $175.94.
Read Our Latest Analysis on Lennar
Lennar Trading Down 0.2 %
Lennar (NYSE:LEN – Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the prior year, the business posted $4.82 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Equities research analysts forecast that Lennar will post 14.11 earnings per share for the current year.
Insider Activity
In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in Lennar by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after purchasing an additional 73,638 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after buying an additional 396,951 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares during the last quarter. D1 Capital Partners L.P. increased its stake in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.
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.
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