Lennar (NYSE:LEN) Cut to “Neutral” at BTIG Research

Lennar (NYSE:LEN) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports.

Other analysts also recently issued research reports about the company. JMP Securities raised their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Bank of America boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Finally, Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and an average target price of $184.00.

Lennar Trading Down 5.2 %

Shares of LEN stock opened at $138.40 on Friday. The firm has a market capitalization of $37.54 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. Lennar has a 1 year low of $135.21 and a 1 year high of $193.80. The firm’s fifty day simple moving average is $169.78 and its 200 day simple moving average is $169.58. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the firm posted $4.82 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Lennar will post 14.11 EPS for the current year.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new stake in Lennar during the 3rd quarter worth about $30,000. Asset Dedication LLC boosted its stake in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after buying an additional 157 shares during the last quarter. Institutional investors own 81.10% 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, 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.