Coastline Trust Co Acquires 750 Shares of Lennar Co. (NYSE:LEN)

Coastline Trust Co raised its stake in Lennar Co. (NYSE:LEN) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,573 shares of the construction company’s stock after acquiring an additional 750 shares during the period. Coastline Trust Co’s holdings in Lennar were worth $5,169,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LEN. Oakworth Capital Inc. bought a new stake in shares of Lennar during the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Lennar in the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. bought a new position in Lennar during the 1st quarter valued at about $32,000. Finally, Asset Dedication LLC boosted its holdings in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock opened at $168.90 on Friday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The stock has a 50 day moving average of $179.35 and a 200 day moving average of $168.76. The firm has a market cap of $45.81 billion, a PE ratio of 11.19, a PEG ratio of 1.56 and a beta of 1.62.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 earnings per share. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. JMP Securities lifted their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Citigroup increased their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Evercore ISI cut their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Lennar currently has an average rating of “Hold” and an average price target of $180.56.

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.