Lennar (NYSE:LEN) Upgraded to Overweight at KeyCorp

KeyCorp upgraded shares of Lennar (NYSE:LENGet Rating) from an underweight rating to an overweight rating in a report released on Monday, MarketBeat Ratings reports. KeyCorp currently has $89.00 price objective on the construction company’s stock, up from their prior price objective of $60.00.

Several other equities research analysts have also issued reports on LEN. StockNews.com lowered shares of Lennar from a buy rating to a hold rating in a research note on Friday, July 29th. Barclays lowered their price target on shares of Lennar from $93.00 to $85.00 and set an equal weight rating on the stock in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. lowered shares of Lennar from an overweight rating to a neutral rating and lowered their price target for the company from $83.00 to $80.00 in a research note on Tuesday, July 12th. Wedbush lowered shares of Lennar from an outperform rating to a neutral rating in a research note on Friday, August 12th. Finally, BTIG Research lifted their price target on shares of Lennar from $92.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $93.15.

Lennar Trading Up 3.5 %

Shares of NYSE:LEN opened at $78.47 on Monday. Lennar has a 12 month low of $62.54 and a 12 month high of $117.54. The company has a quick ratio of 0.62, a current ratio of 8.06 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $81.37 and its 200 day simple moving average is $79.26. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 5.37, a PEG ratio of 4.34 and a beta of 1.52.

Lennar (NYSE:LENGet Rating) last issued its quarterly earnings data on Tuesday, June 21st. The construction company reported $4.69 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.74. Lennar had a net margin of 14.77% and a return on equity of 21.45%. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the business posted $2.95 earnings per share. As a group, research analysts forecast that Lennar will post 17.12 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Thursday, July 7th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, July 6th. Lennar’s payout ratio is 10.27%.

Insider Buying and Selling

In related news, VP David M. Collins sold 15,000 shares of Lennar stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the completion of the sale, the vice president now owns 41,382 shares of the company’s stock, valued at approximately $3,393,324. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.08% of the stock is currently owned by insiders.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in Lennar by 66.6% in the 1st quarter. SG Americas Securities LLC now owns 4,722 shares of the construction company’s stock worth $383,000 after purchasing an additional 1,888 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Lennar in the 1st quarter worth about $471,000. Robeco Institutional Asset Management B.V. raised its stake in Lennar by 7.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 339,462 shares of the construction company’s stock worth $27,554,000 after purchasing an additional 23,665 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in Lennar by 11.3% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 8,805 shares of the construction company’s stock worth $1,023,000 after purchasing an additional 896 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Lennar in the 1st quarter valued at approximately $1,645,000. Institutional investors and hedge funds own 81.18% of the company’s stock.

Lennar Company Profile

(Get Rating)

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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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