Coastline Trust Co Sells 9,960 Shares of Lennar Corporation (NYSE:LEN)

Coastline Trust Co lessened its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 48.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,401 shares of the construction company's stock after selling 9,960 shares during the period. Coastline Trust Co's holdings in Lennar were worth $1,194,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Hurley Capital LLC acquired a new stake in shares of Lennar in the 4th quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new stake in Lennar during the fourth quarter worth $28,000. Ameriflex Group Inc. acquired a new stake in Lennar in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Lennar during the 1st quarter worth about $30,000. Finally, NBC Securities Inc. bought a new stake in shares of Lennar in the 1st quarter valued at about $33,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 3.7%

NYSE LEN traded down $4.26 during trading hours on Thursday, reaching $110.55. The company's stock had a trading volume of 2,188,692 shares, compared to its average volume of 2,702,531. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $187.61. The stock has a market cap of $29.16 billion, a P/E ratio of 9.16, a P/E/G ratio of 4.76 and a beta of 1.33. The firm has a fifty day simple moving average of $108.82 and a 200-day simple moving average of $118.88.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.45 EPS. Equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's payout ratio is currently 16.54%.

Analyst Ratings Changes

A number of research firms recently weighed in on LEN. Wells Fargo & Company decreased their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Royal Bank Of Canada dropped their target price on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Evercore ISI cut their target price on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Finally, Bank of America decreased their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar currently has an average rating of "Hold" and a consensus target price of $128.85.

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.