Citizens Financial Group Inc. RI Buys Shares of 2,905 Lennar Corporation (NYSE:LEN)

Key Points

• Citizens Financial Group Inc. RI has invested approximately $333,000 in Lennar Corporation by acquiring 2,905 shares during the first quarter.
• Multiple institutional investors increased their stakes in Lennar, with ownership by institutional investors and hedge funds now at 81.10% of the company's stock.
• Lennar reported earnings of $1.90 per share for the last quarter, which was below analysts' expectations, with a revenue of $8.38 billion.

Citizens Financial Group Inc. RI acquired a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,905 shares of the construction company's stock, valued at approximately $333,000.

A number of other institutional investors have also modified their holdings of LEN. The Manufacturers Life Insurance Company lifted its holdings in Lennar by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Lennar in the 4th quarter valued at about $218,533,000. Eminence Capital LP increased its position in Lennar by 43.4% during the 4th quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock worth $93,444,000 after purchasing an additional 207,343 shares during the period. D1 Capital Partners L.P. grew its holdings in Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after acquiring an additional 270,433 shares during the period. Finally, Man Group plc grew its holdings in Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after acquiring an additional 268,209 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 3.4%

Shares of LEN traded up $4.08 during trading hours on Tuesday, hitting $124.61. The stock had a trading volume of 3,043,567 shares, compared to its average volume of 3,150,380. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The firm has a market cap of $32.28 billion, a P/E ratio of 10.31, a P/E/G ratio of 5.13 and a beta of 1.29. The company's fifty day simple moving average is $112.32 and its 200 day simple moving average is $114.10. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. During the same period last year, the business earned $3.45 earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is 16.54%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LEN. JMP Securities lowered their price target on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Keefe, Bruyette & Woods lowered their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. UBS Group lowered their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Finally, Barclays lowered their target price on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $128.85.

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.