Citigroup Reaffirms Neutral Rating on Lennar (NYSE:LEN)

Lennar (NYSE:LEN – Get Free Report)Investment analysts at Citigroup reiterated a “neutral” rating on the stock in a research note issued Tuesday, Marketbeat.com reports. They currently have a $164.00 price target on the homebuilder’s stock, down from their previous $174.00 target. Citigroup’s price target would indicate a potential upside of 12.38% from the company’s current price.

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

See our latest LEN report

Lennar shares fall 2.6%

Shares of Lennar opened at $145.93 on Tuesday. The company has a market capitalization 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 current 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.

Lennar Internal Transactions

In other news, Executive Vice President Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15. The shares were sold at an average price of $170.11, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink . In other Lennar 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 transaction 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 $2,764,707.84. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this hyperlink . Additionally, Executive Vice President Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15. The shares were sold at an average price of $170.11, for a total 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. Disclosure regarding the sale can be found here . Insiders have sold a total of 29,176 shares of the company’s stock valued at $4,841,039 over the last 90 days. Insiders own 9.36% of the stock.

Institutional investors rate Lennar

Several major investors recently modified their holdings in the company. Manufacturers Life Insurance Company increased its holdings in Lennar shares by 5.9% in the third quarter. 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. increased its position in Lennar shares by 3.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after acquiring an additional 79,217 shares during the period. Nordea Investment Management AB increased its position in Lennar shares by 3.6% in the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lennar by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after purchasing an additional 8,008 shares during the period. Finally, Assenagon Asset Management SA increased its position in shares of Lennar by 6,297.0% during the fourth quarter. Assenagon Asset Management SA now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after purchasing an additional 651,924 shares during the period. 81.10% of the shares are currently held by institutional investors.

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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