Citigroup Reiterates Neutral Rating for Lennar (NYSE:LEN)

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reiterated by investment analysts at Citigroup in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $164.00 target price on the construction company’s stock, down from their prior target price of $174.00. Citigroup’s price target would indicate a potential upside of 12.38% from the company’s current price.

Several other equities research analysts have also issued reports on LEN. JPMorgan Chase & Co. reduced their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Evercore ISI cut their price objective on Lennar from $238.00 to $237.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $166.69.

Lennar Stock Down 2.6 %

Shares of Lennar stock opened at $145.93 on Tuesday. The firm has a market cap of $40.62 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. Lennar has a 52-week low of $102.90 and a 52-week high of $172.59. The stock has a 50-day simple moving average of $156.22 and a 200-day simple moving average of $155.54.

Insider Transactions at Lennar

In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lennar news, VP Mark Sustana sold 9,176 shares of the stock in a transaction dated Monday, May 20th. The stock was 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 in the company, valued at $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock worth $4,841,039 over the last 90 days. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after acquiring an additional 366,983 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Lennar by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after buying an additional 79,217 shares during the period. Nordea Investment Management AB boosted its position in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after buying an additional 60,713 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lennar by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock worth $231,067,000 after buying an additional 8,008 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Lennar by 6,297.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after buying an additional 651,924 shares during the period. 81.10% of the stock is currently owned by 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.