Wells Fargo & Company Has Lowered Expectations for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective reduced by Wells Fargo & Company from $180.00 to $165.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.07% from the company’s previous close.

Several other research firms have also weighed in on LEN. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $182.88.

Lennar Trading Down 3.7 %

Shares of NYSE LEN opened at $145.93 on Tuesday. Lennar has a fifty-two week low of $140.65 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market capitalization of $39.58 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.31 and a beta of 1.61. The company’s 50 day simple moving average is $170.57 and its 200 day simple moving average is $169.80.

Lennar (NYSE:LEN) last posted its 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 company 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%. Lennar’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.82 earnings per share. On average, analysts predict that Lennar will post 14.11 EPS for the current year.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in 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 acquiring an additional 149,812 shares during the period. Smead Capital Management Inc. raised its position in shares of Lennar by 3.5% in 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 period. OneDigital Investment Advisors LLC lifted its stake in shares of 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. Asset Management One Co. Ltd. boosted its holdings in shares of Lennar by 8.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after buying an additional 8,092 shares during the period. Finally, Soditic Asset Management LLP grew its stake in Lennar by 143.1% in the 3rd quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock valued at $5,491,000 after buying an additional 17,240 shares during the last quarter. Institutional investors 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.