Lennar (NYSE:LEN) Given New $205.00 Price Target at Wells Fargo & Company

Lennar (NYSE:LEN) had its target price lifted by Wells Fargo & Company from $195.00 to $205.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other research analysts also recently commented on LEN. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $157.00 to $154.00 and set a neutral rating for the company in a research report on Thursday, June 20th. Citigroup reissued a neutral rating and set a $164.00 price target (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an underperform rating and issued a $145.00 price objective on shares of Lennar in a research report on Thursday, June 20th. StockNews.com lowered Lennar from a buy rating to a hold rating in a report on Monday, August 12th. Finally, JMP Securities reaffirmed a market outperform rating and set a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $172.69.

Lennar Price Performance

NYSE:LEN opened at $178.19 on Monday. Lennar has a 52-week low of $102.90 and a 52-week high of $186.60. The company has a market cap of $48.93 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock’s 50-day simple moving average is $171.04 and its 200 day simple moving average is $162.55.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. As a group, sell-side analysts forecast that Lennar will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. Lennar’s dividend payout ratio is presently 13.60%.

Institutional Investors Weigh In On Lennar

A number of large investors have recently added to or reduced their stakes in LEN. Sanctuary Advisors LLC acquired a new position in Lennar during the second quarter valued at approximately $6,069,000. Clearbridge Investments LLC raised its holdings in shares of Lennar by 21.1% during the 2nd quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after buying an additional 28,938 shares in the last quarter. Delphi Management Inc. MA boosted its stake in Lennar by 3.4% in the second quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock valued at $1,608,000 after buying an additional 352 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in Lennar in the second quarter valued at about $904,000. Finally, Kimelman & Baird LLC acquired a new position in Lennar during the second quarter worth about $124,000. Institutional investors and hedge funds 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.