JPMorgan Chase & Co. Trims Lennar (NYSE:LEN) Target Price to $154.00

Lennar (NYSE:LENFree Report) had its price target trimmed by JPMorgan Chase & Co. from $157.00 to $154.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other analysts also recently issued reports on LEN. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lennar from $110.00 to $122.00 and gave the company a sell rating in a report on Thursday, March 14th. Oppenheimer reaffirmed a market perform rating on shares of Lennar in a report on Friday, March 15th. StockNews.com downgraded shares of Lennar from a buy rating to a hold rating in a report on Wednesday. Evercore ISI dropped their price objective on shares of Lennar from $238.00 to $237.00 and set an outperform rating on the stock in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Lennar from $165.00 to $175.00 and gave the stock an overweight rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $166.47.

Check Out Our Latest Analysis on Lennar

Lennar Stock Performance

Shares of NYSE LEN opened at $151.55 on Thursday. The firm’s 50-day moving average price is $156.53 and its 200-day moving average price is $155.08. The company has a quick ratio of 1.27, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.18 billion, a PE ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.56. Lennar has a 52-week low of $102.90 and a 52-week high of $172.59.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Lennar’s dividend payout ratio is presently 13.60%.

Insiders Place Their Bets

In related news, Director Amy Banse acquired 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the sale, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lennar

A number of large investors have recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its position in Lennar by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock valued at $153,000 after buying an additional 69 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Lennar by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after purchasing an additional 70 shares in the last quarter. Nilsine Partners LLC boosted its position in Lennar by 1.7% in the 1st quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock worth $783,000 after purchasing an additional 75 shares in the last quarter. Savant Capital LLC boosted its position in Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 78 shares in the last quarter. Finally, RFG Advisory LLC boosted its position in Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

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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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