Cigna Investments Inc. New Sells 173 Shares of Lennar Corporation $LEN

Cigna Investments Inc. New reduced its position in shares of Lennar Corporation (NYSE:LEN) by 7.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,161 shares of the construction company’s stock after selling 173 shares during the quarter. Cigna Investments Inc. New’s holdings in Lennar were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Ameriflex Group Inc. bought a new stake in Lennar during the fourth quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in Lennar during the first quarter worth $30,000. NBC Securities Inc. bought a new stake in Lennar during the first quarter worth $33,000. Franchise Capital Ltd bought a new stake in Lennar during the first quarter worth $38,000. Finally, Disciplina Capital Management LLC raised its position in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Trading Down 1.3%

LEN stock opened at $124.00 on Friday. 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 company’s 50-day simple moving average is $127.07 and its 200 day simple moving average is $116.00. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $189.65. The company has a market capitalization of $32.12 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 5.62 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the company posted $3.90 earnings per share. Lennar’s revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LEN shares. Barclays dropped their price target on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 18th. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a report on Monday. Bank of America upped their price objective on shares of Lennar from $115.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $123.75.

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.