Citizens Financial Group Inc. RI Acquires 1,900 Shares of Lennar Corporation $LEN

Citizens Financial Group Inc. RI lifted its holdings in shares of Lennar Corporation (NYSE:LEN) by 65.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,805 shares of the construction company’s stock after buying an additional 1,900 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lennar were worth $531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after acquiring an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Lennar during the 2nd quarter worth about $424,950,000. Brave Warrior Advisors LLC boosted its stake in Lennar by 23.4% in the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after purchasing an additional 415,218 shares during the period. Eminence Capital LP grew its holdings in Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after buying an additional 896,264 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Lennar by 20.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after buying an additional 123,266 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Lennar stock opened at $116.04 on Wednesday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $180.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The stock has a market cap of $29.59 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 5.78 and a beta of 1.33. The firm’s fifty day moving average price is $125.37 and its 200-day moving average price is $119.43.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the company earned $3.90 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were given a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. Lennar’s payout ratio is presently 19.76%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, September 22nd. Citigroup reiterated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Wells Fargo & Company reduced their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Finally, Royal Bank Of Canada raised their price target on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $121.75.

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.