Lennar (NYSE:LEN) Sets New 52-Week Low on Analyst Downgrade

Shares of Lennar Co. (NYSE:LEN) hit a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $196.00 to $150.00. Citigroup currently has a neutral rating on the stock. Lennar traded as low as $133.69 and last traded at $133.98, with a volume of 769954 shares traded. The stock had previously closed at $135.06.

Other research analysts have also recently issued reports about the company. Bank of America raised their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods dropped their target price on Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, December 20th. UBS Group lowered their price target on Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. 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 report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given 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 $172.31.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

Several hedge funds have recently bought and sold shares of LEN. The Manufacturers Life Insurance Company boosted its stake in shares of Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after acquiring an additional 73,638 shares during the period. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares during the period. Smead Capital Management Inc. lifted its stake in shares of Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after buying an additional 89,896 shares during the last quarter. D1 Capital Partners L.P. grew its stake in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after acquiring an additional 397,492 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 0.9 %

The company has a market cap of $36.31 billion, a P/E ratio of 8.87, a PEG ratio of 1.28 and a beta of 1.66. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $159.47 and a 200-day moving average price of $168.30.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.82 EPS. On average, analysts forecast that Lennar Co. will post 14.11 earnings per share for the current year.

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.