Citizens Financial Group Inc. RI Increases Position in Lennar Corporation $LEN

Citizens Financial Group Inc. RI raised its position in shares of Lennar Corporation (NYSE:LEN) by 120.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,598 shares of the construction company’s stock after purchasing an additional 5,793 shares during the period. Citizens Financial Group Inc. RI’s holdings in Lennar were worth $1,336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of LEN. Freedom Day Solutions LLC lifted its position in Lennar by 2.4% in the 3rd quarter. Freedom Day Solutions LLC now owns 18,629 shares of the construction company’s stock worth $2,348,000 after buying an additional 444 shares during the last quarter. ORG Wealth Partners LLC lifted its holdings in shares of Lennar by 5.2% in the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after acquiring an additional 102 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Lennar by 1.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,048 shares of the construction company’s stock valued at $3,535,000 after purchasing an additional 530 shares in the last quarter. Lakewood Asset Management LLC grew its holdings in shares of Lennar by 2.8% during the 3rd quarter. Lakewood Asset Management LLC now owns 11,134 shares of the construction company’s stock valued at $1,403,000 after purchasing an additional 308 shares during the last quarter. Finally, Austin Asset Management Co Inc bought a new stake in Lennar in the third quarter worth $214,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of Lennar stock opened at $123.41 on Wednesday. The business has a 50 day moving average of $116.99 and a 200 day moving average of $121.56. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $144.24. The company has a market cap of $31.47 billion, a PE ratio of 15.45, a P/E/G ratio of 1.40 and a beta of 1.42. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the firm posted $4.03 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. Citigroup decreased their price objective on Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Bank of America reaffirmed an “underperform” rating and issued a $95.00 price target (down from $125.00) on shares of Lennar in a research note on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research note on Friday. Wells Fargo & Company decreased their target price on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $125.00 price target on shares of Lennar in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $106.38.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.