Truist Financial Corp Has $23.71 Million Stock Holdings in Lennar Corporation $LEN

Key Points

• Truist Financial Corp significantly increased its stake in Lennar Corporation by 130.6% in Q2, holding approximately $23.71 million worth of shares.
• Several analysts have modified their target prices for Lennar, with UBS raising it from $146 to $161, while other firms have issued a mix of buy, hold, and sell ratings.
• Lennar announced a quarterly dividend of $0.50, scheduled to be paid on October 27th, indicating a 1.5% yield for shareholders.

Truist Financial Corp boosted its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 130.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,314 shares of the construction company's stock after buying an additional 121,390 shares during the quarter. Truist Financial Corp owned approximately 0.08% of Lennar worth $23,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Kingstone Capital Partners Texas LLC acquired a new stake in Lennar in the second quarter worth about $424,950,000. The Manufacturers Life Insurance Company boosted its stake in shares of Lennar by 45.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock valued at $1,020,866,000 after purchasing an additional 2,777,567 shares during the last quarter. Eminence Capital LP boosted its stake in shares of Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock valued at $181,523,000 after purchasing an additional 896,264 shares during the last quarter. Brave Warrior Advisors LLC lifted its holdings in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock valued at $251,323,000 after buying an additional 415,218 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Lennar in the first quarter valued at approximately $41,788,000. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on LEN shares. UBS Group upped their target price on shares of Lennar from $146.00 to $161.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Wedbush restated a "neutral" rating and set a $130.00 target price on shares of Lennar in a report on Monday, September 22nd. Wells Fargo & Company raised their target price on Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. The Goldman Sachs Group increased their price target on shares of Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Lennar presently has a consensus rating of "Hold" and an average price target of $123.75.

Lennar Stock Up 1.4%

NYSE:LEN opened at $130.13 on Friday. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $189.65. 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 50-day simple moving average of $128.71 and a 200 day simple moving average of $116.38. The company has a market cap of $33.70 billion, a PE ratio of 12.86, a PEG ratio of 5.74 and a beta of 1.37.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.15. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business's revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.90 EPS. On average, sell-side analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, October 10th. Lennar's payout ratio is presently 19.76%.

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.

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