Citigroup Reiterates Neutral Rating for Lennar (NYSE:LEN)

Lennar (NYSE:LEN)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $164.00 price target on the construction company’s stock, down from their previous price target of $174.00. Citigroup’s price objective suggests a potential upside of 12.38% from the stock’s previous close.

LEN has been the subject of a number of other research reports. BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 target price on shares of Lennar in a research note on Thursday, June 20th. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Evercore ISI lowered their price target on Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Lennar presently has an average rating of “Hold” and an average target price of $166.69.

Lennar Price Performance

LEN opened at $145.93 on Tuesday. The stock has a 50-day moving average price of $156.22 and a 200-day moving average price of $155.54. Lennar has a 12-month low of $102.90 and a 12-month high of $172.59. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.62 billion, a P/E ratio of 9.92, a PEG ratio of 1.35 and a beta of 1.60.

Insider Buying and Selling

In other Lennar news, VP Mark Sustana sold 9,176 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the sale, the vice president now directly owns 16,768 shares in the company, valued at approximately $2,764,707.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lennar news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the sale, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock worth $4,841,039 in the last 90 days. Insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Several institutional investors have recently added to or reduced their stakes in LEN. Rise Advisors LLC lifted its holdings in shares of Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Lennar during the 1st quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar during the 1st quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter valued at $35,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Lennar during the 4th quarter valued at $36,000. 81.10% of the stock is currently owned by hedge funds and other 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.