Lennar (NYSE:LEN) had its price target boosted by Wedbush from $81.00 to $86.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the construction company’s stock. Wedbush’s price objective indicates a potential upside of 9.67% from the company’s current price.

Several other research analysts also recently commented on LEN. Wells Fargo & Company cut their price target on shares of Lennar from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Seaport Global Securities downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Monday, July 13th. TheStreet raised shares of Lennar from a “c+” rating to a “b” rating in a report on Tuesday, May 26th. Barclays raised their price target on shares of Lennar from $70.00 to $84.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America raised their price target on shares of Lennar from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Lennar presently has a consensus rating of “Buy” and an average target price of $75.31.

Lennar stock traded up $2.52 during mid-day trading on Wednesday, reaching $78.42. The company’s stock had a trading volume of 36,593 shares, compared to its average volume of 3,649,774. Lennar has a 12-month low of $25.42 and a 12-month high of $80.00. The company has a market capitalization of $23.70 billion, a P/E ratio of 11.68, a PEG ratio of 1.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 14.21. The firm’s fifty day moving average price is $75.17 and its two-hundred day moving average price is $59.24.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, September 14th. The construction company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.61. Lennar had a net margin of 9.30% and a return on equity of 13.08%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the firm earned $1.59 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Lennar will post 6.27 EPS for the current fiscal year.

In other news, President Jonathan M. Jaffe sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $61.41, for a total value of $2,456,400.00. Following the transaction, the president now owns 335,521 shares in the company, valued at $20,604,344.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Diane J. Bessette sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $61.01, for a total transaction of $305,050.00. Following the completion of the transaction, the chief financial officer now owns 277,775 shares in the company, valued at approximately $16,947,052.75. The disclosure for this sale can be found here. Insiders have sold 145,000 shares of company stock worth $9,792,450 in the last three months. 8.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Lennar by 22.1% in the first quarter. The Manufacturers Life Insurance Company now owns 12,618,097 shares of the construction company’s stock worth $482,012,000 after buying an additional 2,285,388 shares in the last quarter. Nordea Investment Management AB lifted its position in Lennar by 2,710.0% during the second quarter. Nordea Investment Management AB now owns 1,791,818 shares of the construction company’s stock valued at $108,154,000 after purchasing an additional 1,728,053 shares during the period. Eagle Asset Management Inc. lifted its position in Lennar by 23.8% during the first quarter. Eagle Asset Management Inc. now owns 1,237,515 shares of the construction company’s stock valued at $47,273,000 after purchasing an additional 237,600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Lennar by 6.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,232,824 shares of the construction company’s stock valued at $75,822,000 after purchasing an additional 76,303 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in Lennar by 103,874.1% during the second quarter. Glenmede Trust Co. NA now owns 1,195,702 shares of the construction company’s stock valued at $73,677,000 after purchasing an additional 1,194,552 shares during the period. Hedge funds and other institutional investors own 81.62% 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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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