Wedbush Upgrades Lennar (NYSE:LEN) to Neutral

Lennar (NYSE:LEN – Get Free Report) was raised by Wedbush from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $144.00 price target on the construction company’s shares. Wedbush’s price target indicates a potential upside of 0.96% from the current stock price.

Several other equities analysts also commented on LEN. Wells Fargo & Company lifted their price target for Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target for shares of Lennar in a research note on Thursday, June 20. Barclays lifted their price target for Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, March 15. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $183.00 price target for shares of Lennar in a research note on Tuesday, June 18. Finally, Argus raised their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 27. Two analysts rated the stock a “sell,” seven gave a “hold” rating, and nine gave the stock a “buy” rating. The company currently has an average rating of “hold” and a consensus price target of $166.69, according to data from MarketBeat.com.

Read our latest report on LEN

Lennar’s Stock Results

Shares of Lennar opened at $142.63 on Tuesday. Lennar has a one-year low of $102.90 and a one-year high of $172.59. The company has a market capitalization of $39.70 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.28 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.91 and a current ratio of 4.93. The company’s 50 day moving average price is $154.98 and a 200 day moving average price is $155.30.

Lennar Internal Transactions

In related news, Vice President Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated Monday, May 20. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the Vice President now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The sale was disclosed in legal documents filed with the SEC, which can be accessed through the SEC’s website . In related news, Vice President Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated Monday, May 20. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the Vice President now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The sale was disclosed in legal documents filed with the SEC, which can be accessed through the SEC website . Additionally, Director Amy Banse purchased 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10. The shares were purchased at an average price of $157.00 per share, for a total value of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. Disclosure regarding this purchase can be found here . Over the last ninety days, insiders have sold 29,176 shares of the company’s stock, valued at $4,841,039. 9.36% of the stock is currently owned by corporate insiders.

Lennar Institutional Trading

Several hedge funds have recently added or decreased their holdings in the stock. Benjamin Edwards Inc. increased its position in Lennar by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock worth $153,000 after acquiring an additional 69 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Lennar by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after acquiring an additional 70 shares during the period. Nilsine Partners LLC increased its position in Lennar by 1.7% in the first quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock worth $783,000 after acquiring an additional 75 shares during the period. Savant Capital LLC increased its position in Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 78 shares during the period. Finally, RFG Advisory LLC increased its holdings in shares of Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after acquiring an additional 79 shares during the last quarter. 81.10% of the shares are owned by institutional investors and hedge funds.

About Lennar

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Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through its Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily and Lennar Other segments. The Company’s residential construction business includes the construction and sale of single-family townhomes and detached homes; the acquisition, development and sale of residential land; and the development, construction and management of multifamily rental properties.

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