Citigroup Cuts Lennar (NYSE:LEN) Price Target to $150.00

Lennar (NYSE:LEN) had its price target decreased by Citigroup from $196.00 to $150.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

A number of other brokerages have also recently commented on LEN. JMP Securities increased their target price on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. The Goldman Sachs Group dropped their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Finally, Bank Of America (Bofa) upped their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.50.

Lennar Stock Up 0.3 %

Shares of NYSE LEN opened at $133.52 on Monday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $157.96 and a 200 day moving average price of $167.93. Lennar has a 52 week low of $130.91 and a 52 week high of $193.80. The stock has a market capitalization of $36.22 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.66.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period last year, the firm earned $4.82 EPS. Equities research analysts anticipate that Lennar will post 14.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On Lennar

A number of hedge funds have recently added to or reduced their stakes in LEN. International Assets Investment Management LLC boosted its holdings in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after buying an additional 149,812 shares during the period. Smead Capital Management Inc. grew its holdings in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Lennar by 147.6% in the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after purchasing an additional 41,264 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Lennar by 101.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after buying an additional 4,363 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Lennar by 8.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after acquiring an additional 8,092 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

About Lennar

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.