Lennar Corporation (NYSE:LEN) Stock Has Average Target Price of $79.00

Shares of Lennar Corporation (NYSE:LEN) have been assigned a consensus recommendation of “Strong Sell” from the nineteen brokerages that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $79.00.

A number of brokerages have issued reports on LEN. Benchmark upgraded Lennar to a “hold” rating in a research report on Thursday, September 3rd. Keefe, Bruyette & Woods lowered their price target on Lennar from $85.00 to $75.00 and set an “underperform” rating on the stock in a report on Tuesday, September 22nd. Truist Financial cut their price objective on shares of Lennar from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, September 16th. Wells Fargo & Company reduced their price objective on shares of Lennar from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Finally, Argus set a $108.00 target price on shares of Lennar in a research report on Thursday, July 9th.

Insider Buying and Selling at Lennar

In related news, major shareholder Berkshire Hathaway Inc acquired 1,708,095 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was acquired at an average cost of $79.44 per share, for a total transaction of $135,691,066.80. Following the completion of the acquisition, the insider directly owned 28,438,045 shares of the company’s stock, valued at approximately $2,259,118,294.80. The trade was a 6.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have purchased 7,502,276 shares of company stock valued at $595,303,287. Corporate insiders own 10.05% of the company’s stock.

Institutional Trading of Lennar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC increased its holdings in Lennar by 77.1% in the second quarter. Concurrent Investment Advisors LLC now owns 89,178 shares of the construction company’s stock worth $8,070,000 after buying an additional 38,822 shares during the last quarter. Nykredit A S bought a new position in Lennar during the second quarter valued at approximately $5,295,000. Nan Shan Life Insurance Co. Ltd. lifted its stake in Lennar by 6,292.5% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock valued at $29,681,000 after acquiring an additional 322,869 shares during the last quarter. Corient Private Wealth LP lifted its stake in Lennar by 24.7% in the second quarter. Corient Private Wealth LP now owns 82,261 shares of the construction company’s stock valued at $7,444,000 after acquiring an additional 16,299 shares during the last quarter. Finally, Redwood Investment Management LLC bought a new stake in Lennar in the first quarter worth approximately $1,028,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

LEN opened at $83.28 on Friday. The company has a current ratio of 4.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $81.10 and its 200-day moving average is $91.93. The stock has a market cap of $19.81 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 3.19 and a beta of 1.36. Lennar has a twelve month low of $71.78 and a twelve month high of $133.76.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the company earned $2.00 earnings per share. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, analysts predict that Lennar will post 4.88 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, October 7th. Lennar’s payout ratio is 37.81%.

Lennar Company Profile

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.