Legacy Trust Lowers Position in Lennar Corporation $LEN

Legacy Trust lessened its position in Lennar Corporation (NYSE:LEN) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,685 shares of the construction company’s stock after selling 2,588 shares during the quarter. Lennar makes up about 1.4% of Legacy Trust’s investment portfolio, making the stock its 28th largest holding. Legacy Trust’s holdings in Lennar were worth $5,717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Opal Wealth Advisors LLC purchased a new position in Lennar during the first quarter valued at $30,000. NBC Securities Inc. purchased a new position in Lennar during the first quarter valued at $33,000. Disciplina Capital Management LLC raised its stake in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 214 shares during the last quarter. Oakworth Capital Inc. raised its stake in Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Lennar during the first quarter valued at $44,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LEN shares. Wedbush reiterated a “neutral” rating and set a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. Wall Street Zen cut Lennar from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Zelman & Associates cut Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Bank of America boosted their price target on Lennar from $115.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Finally, JMP Securities boosted their price target on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $123.75.

Lennar Stock Up 1.4%

LEN stock opened at $130.13 on Friday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. The business has a fifty day moving average price of $128.71 and a 200-day moving average price of $116.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market capitalization of $33.70 billion, a P/E ratio of 12.86, a P/E/G ratio of 5.82 and a beta of 1.37.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.90 earnings per share. Equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio is 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.