Lennar (NYSE:LEN) has been assigned a $52.00 price target by Barclays in a report issued on Thursday. The brokerage presently has a “buy” rating on the construction company’s stock. Barclays‘s target price would suggest a potential upside of 12.04% from the company’s current price.
Several other equities research analysts also recently commented on LEN. Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. Royal Bank of Canada lowered their target price on shares of Lennar and set an “outperform” rating for the company in a research note on Friday. Citigroup lowered their target price on shares of Lennar from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 4th. Deutsche Bank upped their target price on shares of Lennar to $56.00 and gave the company a “buy” rating in a research note on Thursday. Finally, MKM Partners set a $61.00 target price on shares of Lennar and gave the company a “buy” rating in a research note on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seventeen have assigned a buy rating to the stock. Lennar presently has a consensus rating of “Buy” and an average price target of $60.19.
NYSE LEN traded up $1.24 during trading hours on Thursday, hitting $46.41. The company’s stock had a trading volume of 5,361,486 shares, compared to its average volume of 6,242,648. Lennar has a twelve month low of $37.29 and a twelve month high of $72.17. The firm has a market capitalization of $15.29 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.43 and a beta of 1.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the sale, the chief operating officer now owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of LEN. Vanguard Group Inc. increased its position in shares of Lennar by 3.7% during the third quarter. Vanguard Group Inc. now owns 31,160,634 shares of the construction company’s stock worth $1,445,931,000 after acquiring an additional 1,099,188 shares in the last quarter. United Services Automobile Association grew its position in Lennar by 93.0% in the third quarter. United Services Automobile Association now owns 795,291 shares of the construction company’s stock valued at $37,132,000 after purchasing an additional 383,181 shares in the last quarter. PointState Capital LP grew its position in Lennar by 85.5% in the second quarter. PointState Capital LP now owns 369,600 shares of the construction company’s stock valued at $19,404,000 after purchasing an additional 170,400 shares in the last quarter. Marshall Wace North America L.P. grew its position in Lennar by 831.5% in the third quarter. Marshall Wace North America L.P. now owns 188,515 shares of the construction company’s stock valued at $8,802,000 after purchasing an additional 168,277 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Lennar by 207.5% in the third quarter. First Trust Advisors LP now owns 243,383 shares of the construction company’s stock valued at $11,364,000 after purchasing an additional 164,227 shares in the last quarter. 84.53% of the stock is owned by institutional investors.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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