Citigroup Reaffirms Neutral Rating for Lennar (NYSE:LEN)

Citigroup reissued their neutral rating on shares of Lennar (NYSE:LEN) in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage currently has a $164.00 price target on the construction company’s stock, down from their previous price target of $174.00.

Other research analysts have also issued research reports about the stock. JMP Securities reissued a market outperform rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Wells Fargo & Company raised their price objective on shares of Lennar from $165.00 to $175.00 and gave the company an overweight rating in a research note on Friday, March 15th. BTIG Research decreased their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating for the company in a research note on Thursday, June 20th. Wedbush reiterated an underperform rating and issued a $144.00 price target on shares of Lennar in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada reiterated an underperform rating and issued a $145.00 price target on shares of Lennar in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $166.69.

Lennar Trading Down 0.2 %

NYSE LEN opened at $143.28 on Tuesday. The firm has a 50 day simple moving average of $155.65 and a 200-day simple moving average of $155.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a one year low of $102.90 and a one year high of $172.59. The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.29 and a beta of 1.60.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Lennar’s payout ratio is 13.60%.

Insider Activity

In other Lennar news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at approximately $20,179,979.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Banse acquired 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. Insiders have sold 29,176 shares of company stock valued at $4,841,039 in the last ninety days. 9.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lennar

Several institutional investors have recently made changes to their positions in LEN. Assenagon Asset Management S.A. boosted its position in shares of Lennar by 6,297.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after purchasing an additional 651,924 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Lennar by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after buying an additional 366,983 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Lennar in the 1st quarter worth about $61,807,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Lennar by 157.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after buying an additional 351,698 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Lennar by 97.4% in the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock worth $52,866,000 after buying an additional 174,981 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.