Lennar (NYSE:LEN) Given “Neutral” Rating at Citigroup

Citigroup reiterated their neutral rating on shares of Lennar (NYSE:LEN) in a report issued on Tuesday morning, Marketbeat.com reports. Citigroup currently has a $164.00 price objective on the construction company’s stock, down from their previous price objective of $174.00.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Lennar from a buy rating to a hold rating in a research note on Wednesday, June 19th. JMP Securities reiterated a market outperform rating and issued a $170.00 price objective on shares of Lennar in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft increased their target price on Lennar from $110.00 to $122.00 and gave the company a sell rating in a report on Thursday, March 14th. Wells Fargo & Company lifted their price target on Lennar from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Finally, Barclays raised their target price on shares of Lennar from $173.00 to $180.00 and gave the stock an overweight rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $166.69.

Lennar Price Performance

Shares of Lennar stock opened at $143.61 on Tuesday. The business’s 50-day moving average price is $156.11 and its 200-day moving average price is $155.47. The firm has a market capitalization of $39.97 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. Lennar has a 12 month low of $102.90 and a 12 month high of $172.59. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Activity

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, 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 document filed with the SEC, which is available at this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares in the company, valued at approximately $20,179,979.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock worth $4,841,039. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

A number of large investors have recently added to or reduced their stakes in LEN. Benjamin Edwards Inc. grew its holdings in shares of 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. lifted its stake in shares of Lennar by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after purchasing an additional 70 shares during the period. Nilsine Partners LLC boosted its holdings in shares of 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 buying an additional 75 shares during the last quarter. Savant Capital LLC grew its position in Lennar by 0.9% during the fourth quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after buying an additional 78 shares during the period. Finally, RFG Advisory LLC raised its position in Lennar by 2.1% in the fourth quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after acquiring an additional 79 shares during the period. 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.