Coastline Trust Co Lowers Holdings in Lennar Corporation $LEN

Key Points

• Coastline Trust Co has reduced its holdings in Lennar Corporation by 39.8%, now owning 6,257 shares valued at approximately $692,000.
• Lennar recently reported earnings of $2.29 per share, exceeding estimates, but its revenue of $8.81 billion fell short of expectations and was down 6.4% year-over-year.
• The company declared a quarterly dividend of $0.50 per share, with a yield of 1.6%, to be paid on October 27th to investors of record on October 10th.

Coastline Trust Co lessened its stake in Lennar Corporation (NYSE:LEN - Free Report) by 39.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,257 shares of the construction company's stock after selling 4,144 shares during the quarter. Coastline Trust Co's holdings in Lennar were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of LEN. Brighton Jones LLC raised its position in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after buying an additional 377 shares during the last quarter. Centaurus Financial Inc. raised its position in Lennar by 7.2% in the 4th quarter. Centaurus Financial Inc. now owns 3,149 shares of the construction company's stock worth $429,000 after buying an additional 212 shares during the last quarter. Rothschild Investment LLC raised its position in Lennar by 24.4% in the 1st quarter. Rothschild Investment LLC now owns 755 shares of the construction company's stock worth $87,000 after buying an additional 148 shares during the last quarter. Delphi Management Inc. MA raised its position in Lennar by 10.1% in the 1st quarter. Delphi Management Inc. MA now owns 9,388 shares of the construction company's stock worth $1,078,000 after buying an additional 859 shares during the last quarter. Finally, Asset Management Advisors LLC raised its position in Lennar by 3.3% in the 1st quarter. Asset Management Advisors LLC now owns 55,122 shares of the construction company's stock worth $6,327,000 after buying an additional 1,780 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Trading Up 1.7%

LEN stock opened at $126.08 on Friday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. 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 company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 5.64 and a beta of 1.33. The business has a 50 day simple moving average of $127.39 and a two-hundred day simple moving average of $116.02.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. The business 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 firm's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.90 EPS. Research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar's payout ratio is presently 19.76%.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of recent analyst reports. UBS Group boosted their target price on Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Royal Bank Of Canada boosted their price target on Lennar from $98.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, September 22nd. Wells Fargo & Company boosted their price target on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 2nd. JMP Securities boosted their price target on Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group boosted their price target on Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lennar currently has a consensus rating of "Hold" and a consensus target price of $123.75.

Lennar 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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