UBS Group Cuts Lennar (NYSE:LEN) Price Target to $192.00

Lennar (NYSE:LEN) had its price target lowered by UBS Group from $205.00 to $192.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other brokerages have also recently issued reports on LEN. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. JMP Securities increased their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada dropped their target price on Lennar from $160.00 to $130.00 and set an “underperform” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $171.50.

Lennar Stock Performance

Shares of LEN opened at $133.52 on Wednesday. The business’s fifty day moving average price is $157.96 and its 200 day moving average price is $167.93. Lennar has a 12-month low of $130.91 and a 12-month high of $193.80. The stock has a market capitalization of $36.22 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

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

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. One Wealth Capital Management LLC acquired a new stake in Lennar during the 4th quarter worth about $246,000. Nordea Investment Management AB boosted its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after acquiring an additional 397,492 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Lennar during the 3rd quarter worth about $2,543,000. Synovus Financial Corp boosted its position in Lennar by 1.3% during the 3rd quarter. Synovus Financial Corp now owns 47,348 shares of the construction company’s stock worth $8,877,000 after acquiring an additional 627 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Lennar during the 3rd quarter worth about $241,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.