Mizuho set a $80.00 price target on Lennar (NYSE:LEN) in a research note issued to investors on Sunday morning. The brokerage currently has a buy rating on the construction company’s stock.
LEN has been the topic of a number of other reports. Wedbush set a $60.00 price target on shares of Lennar and gave the stock a hold rating in a research note on Thursday, January 4th. Credit Suisse Group raised shares of Lennar from a neutral rating to an outperform rating and upped their price target for the stock from $67.00 to $81.00 in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Lennar from a buy rating to a hold rating in a research note on Monday, January 15th. Wells Fargo raised shares of Lennar from a market perform rating to an outperform rating and set a $74.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Evercore ISI raised shares of Lennar from an in-line rating to an outperform rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Lennar currently has a consensus rating of Buy and an average target price of $71.40.
Shares of NYSE:LEN opened at $58.19 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. Lennar has a 12-month low of $49.34 and a 12-month high of $72.17. The firm has a market cap of $14,584.71, a price-to-earnings ratio of 15.27, a PEG ratio of 0.64 and a beta of 1.23.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business posted $0.59 earnings per share. Lennar’s revenue for the quarter was up 27.5% compared to the same quarter last year. sell-side analysts forecast that Lennar will post 5.22 earnings per share for the current fiscal year.
In other Lennar news, CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $72.00, for a total transaction of $72,000.00. Following the transaction, the chief financial officer now directly owns 356,043 shares of the company’s stock, valued at $25,635,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $62.98, for a total transaction of $131,943.10. Following the transaction, the director now directly owns 32,072 shares in the company, valued at $2,019,894.56. The disclosure for this sale can be found here. Insiders have sold 157,095 shares of company stock worth $10,943,593 over the last three months. Company insiders own 8.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in Lennar by 3.1% during the fourth quarter. Comerica Bank now owns 52,232 shares of the construction company’s stock valued at $3,701,000 after acquiring an additional 1,556 shares during the period. Toronto Dominion Bank boosted its holdings in Lennar by 14.2% during the fourth quarter. Toronto Dominion Bank now owns 88,013 shares of the construction company’s stock valued at $5,566,000 after acquiring an additional 10,940 shares during the period. Private Asset Management Inc. bought a new stake in Lennar during the fourth quarter valued at about $316,000. First Trust Advisors LP boosted its holdings in Lennar by 16.1% during the fourth quarter. First Trust Advisors LP now owns 306,342 shares of the construction company’s stock valued at $19,373,000 after acquiring an additional 42,562 shares during the period. Finally, Amalgamated Bank boosted its holdings in Lennar by 9.8% during the fourth quarter. Amalgamated Bank now owns 25,169 shares of the construction company’s stock valued at $1,592,000 after acquiring an additional 2,248 shares during the period. Institutional investors own 88.73% of the company’s stock.
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Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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