Legacy Trust Decreases Holdings in Lennar Corporation $LEN

Key Points

• Legacy Trust decreased its holdings in Lennar Corporation by 4.8% during Q2, now owning 51,685 shares valued at approximately $5.7 million.
• Analysts have varied price target ratings for Lennar, with Barclays reducing its target from $110 to $95, while JMP Securities raised theirs from $130 to $140.
• Lennar announced a dividend of $0.50 per share, equating to an annualized yield of 1.5%, with the payout scheduled for October 27th.

Legacy Trust trimmed its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,685 shares of the construction company's stock after selling 2,588 shares during the period. Lennar comprises 1.4% of Legacy Trust's investment portfolio, making the stock its 28th largest position. Legacy Trust's holdings in Lennar were worth $5,717,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Lennar during the 1st quarter valued at about $30,000. NBC Securities Inc. purchased a new position in shares of Lennar during the 1st quarter valued at about $33,000. Disciplina Capital Management LLC raised its holdings in shares of Lennar by 179.8% during the 1st 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 in the last quarter. Oakworth Capital Inc. grew its position in Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Lennar during the 1st quarter worth approximately $44,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEN has been the topic of several recent research reports. Barclays reduced their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Monday, September 22nd. Royal Bank Of Canada raised their price target on Lennar from $98.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday, September 22nd. JMP Securities raised their price target on Lennar from $130.00 to $140.00 and gave the stock a "market outperform" rating in a research report on Monday, September 22nd. Finally, Evercore ISI raised their price target on Lennar from $114.00 to $118.00 and gave the stock an "in-line" rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Lennar has an average rating of "Hold" and a consensus target price of $123.75.

Lennar Price Performance

Shares of LEN stock opened at $130.13 on Friday. The firm has a market cap 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 Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The business's 50 day moving average price is $128.71 and its 200-day moving average price is $116.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $3.90 EPS. On average, equities research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, October 10th. Lennar's dividend payout ratio (DPR) is presently 19.76%.

About Lennar

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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