The Goldman Sachs Group Cuts Lennar (NYSE:LEN) Price Target to $120.00

Lennar (NYSE:LEN) had its price target reduced by The Goldman Sachs Group from $141.00 to $120.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

Other analysts have also recently issued research reports about the company. Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays decreased their price objective on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, UBS Group dropped their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday. Fifteen investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lennar presently has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Trading Up 0.2 %

Shares of Lennar stock opened at $118.09 on Tuesday. The stock has a market capitalization of $31.35 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar has a 12-month low of $111.26 and a 12-month high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $124.60 and a 200 day simple moving average of $151.79.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 earnings per share. Research analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s payout ratio is presently 14.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in shares of Lennar by 3.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after purchasing an additional 213,003 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Lennar by 1.3% during the third 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 in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares during the period. Wellington Management Group LLP lifted its position in Lennar by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after acquiring an additional 515,378 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake 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 worth $308,696,000 after purchasing an additional 397,492 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.