Lennar (LEN) Price Target Increased to $70.00 by Analysts at Argus
Lennar (NYSE:LEN) had its target price boosted by Argus from $64.00 to $70.00 in a research note released on Thursday morning. The brokerage currently has a buy rating on the construction company’s stock.
Other equities research analysts have also issued reports about the stock. Royal Bank of Canada set a $82.00 target price on shares of Lennar and gave the stock a buy rating in a report on Friday, January 12th. Keefe, Bruyette & Woods reissued a buy rating and issued a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. Mizuho raised shares of Lennar from a neutral rating to a buy rating in a report on Thursday, January 18th. UBS Group reissued a buy rating on shares of Lennar in a report on Wednesday, January 17th. Finally, Zacks Investment Research raised shares of Lennar from a hold rating to a buy rating and set a $78.00 target price for the company in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $68.60.
Lennar (NYSE LEN) traded down $0.02 during midday trading on Thursday, hitting $57.46. 351,454 shares of the stock traded hands, compared to its average volume of 5,445,799. Lennar has a 12-month low of $49.34 and a 12-month high of $72.17. The stock has a market cap of $13,360.00, a price-to-earnings ratio of 17.14, a P/E/G ratio of 0.59 and a beta of 1.31. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 26th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is currently 4.78%.
In other Lennar news, CFO Bruce E. Gross sold 9,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total transaction of $648,000.00. Following the completion of the sale, the chief financial officer now directly owns 346,043 shares of the company’s stock, valued at approximately $24,915,096. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $72.00, for a total transaction of $72,000.00. Following the sale, the chief financial officer now directly owns 356,043 shares of the company’s stock, valued at $25,635,096. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,000 shares of company stock valued at $12,092,050. Insiders own 8.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LEN. Glenhill Advisors LLC bought a new position in shares of Lennar during the 4th quarter valued at approximately $66,782,000. Carillon Tower Advisers Inc. bought a new position in shares of Lennar during the 4th quarter valued at approximately $53,102,000. Clearbridge Investments LLC bought a new position in shares of Lennar during the 4th quarter valued at approximately $38,955,000. Bamco Inc. NY bought a new position in shares of Lennar during the 4th quarter valued at approximately $24,723,000. Finally, Westwood Management Corp IL bought a new position in shares of Lennar during the 4th quarter valued at approximately $18,238,000. 88.27% of the stock is owned by institutional investors and hedge funds.
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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