Truist Financial Cuts Lennar (NYSE:LEN) Price Target to $95.00

Lennar (NYSE:LEN) had its price objective lowered by analysts at Truist Financial from $110.00 to $95.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Truist Financial’s price target indicates a potential upside of 0.08% from the company’s previous close.

LEN has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on Lennar from $125.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Argus raised Lennar to a “strong-buy” rating in a report on Friday, January 16th. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a research report on Monday, December 8th. Citizens Jmp reissued a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Finally, Evercore cut Lennar from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $114.00 to $92.00 in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $104.71.

Lennar Stock Down 0.0%

LEN stock traded down $0.04 during midday trading on Monday, hitting $94.92. 557,782 shares of the company’s stock were exchanged, compared to its average volume of 2,968,335. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $112.52 and a 200-day moving average price of $119.53. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. Lennar has a 12-month low of $92.17 and a 12-month high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 earnings per share. On average, analysts anticipate that Lennar will post 12.48 EPS for the current year.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares during the last quarter. Viking Global Investors LP lifted its position in Lennar by 86.7% in the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Lennar by 12.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock valued at $218,681,000 after purchasing an additional 228,247 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its position in Lennar by 90.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after purchasing an additional 934,856 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Lennar by 7.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock valued at $145,563,000 after purchasing an additional 75,574 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.