Truist Financial Corp Trims Stock Position in Lennar Co. (NYSE:LEN)

Truist Financial Corp lessened its stake in shares of Lennar Co. (NYSE:LEN) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,287 shares of the construction company’s stock after selling 4,817 shares during the quarter. Truist Financial Corp’s holdings in Lennar were worth $18,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Lennar in the 3rd quarter valued at $27,000. Criterion Capital Advisors LLC purchased a new stake in Lennar in the 4th quarter valued at $36,000. Raleigh Capital Management Inc. purchased a new stake in Lennar in the 3rd quarter valued at $28,000. BluePath Capital Management LLC purchased a new position in Lennar during the 3rd quarter worth $29,000. Finally, Itau Unibanco Holding S.A. raised its position in Lennar by 34.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 497 shares of the construction company’s stock worth $56,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LEN. Wedbush restated an “underperform” rating and set a $144.00 price objective on shares of Lennar in a research report on Tuesday, April 2nd. Oppenheimer restated a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Wells Fargo & Company upped their price target on shares of Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Royal Bank of Canada lowered their price target on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Buying and Selling at Lennar

In other news, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is owned by insiders.

Lennar Price Performance

Shares of NYSE LEN opened at $151.62 on Wednesday. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.45 and a beta of 1.53. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The company’s 50-day moving average price is $159.69 and its 200 day moving average price is $144.90. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. As a group, research analysts forecast that Lennar Co. will post 14.46 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Lennar’s dividend payout ratio (DPR) is 14.02%.

Lennar Company Profile

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.