Truist Financial Corp Buys 39,547 Shares of Lennar Corporation $LEN

Truist Financial Corp lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,861 shares of the construction company’s stock after buying an additional 39,547 shares during the period. Truist Financial Corp owned about 0.10% of Lennar worth $31,997,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Lennar in the 2nd quarter worth about $33,000. Rexford Capital Inc. bought a new stake in shares of Lennar during the second quarter worth about $36,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lennar in the second quarter valued at approximately $43,000. Harbor Investment Advisory LLC raised its holdings in Lennar by 39.7% in the 3rd quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock valued at $51,000 after buying an additional 115 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in Lennar during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.4%

Shares of Lennar stock opened at $111.19 on Friday. The firm has a market cap of $28.36 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.62 and a beta of 1.42. The stock’s 50-day moving average is $115.87 and its 200 day moving average is $121.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. Lennar Corporation has a one year low of $98.42 and a one year high of $144.24.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Lennar’s dividend payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LEN shares. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their target price on Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price target on Lennar in a research report on Friday, January 9th. Keefe, Bruyette & Woods lowered their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, December 18th. Finally, Evercore ISI cut Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the company from $114.00 to $92.00 in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar currently has an average rating of “Reduce” and an average price target of $106.38.

Lennar 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.