Lennar Corporation (NYSE:LEN) Stake Trimmed by Avalon Trust Co

Avalon Trust Co lowered its stake in Lennar Corporation (NYSE:LEN) by 14.1% during the first quarter, HoldingsChannel reports. The firm owned 8,000 shares of the construction company’s stock after selling 1,315 shares during the period. Avalon Trust Co’s holdings in Lennar were worth $918,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hurley Capital LLC purchased a new position in Lennar in the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in Lennar in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new position in Lennar in the 1st quarter worth about $30,000. NBC Securities Inc. purchased a new position in Lennar in the 1st quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. increased its stake in Lennar by 611.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company’s stock worth $41,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LEN. Evercore ISI dropped their price target on Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 18th. UBS Group lowered their target price on Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. Bank of America lowered their target price on Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price on Lennar from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Friday, June 20th. Finally, Wedbush reaffirmed a “neutral” rating and set a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $128.85.

Lennar Trading Up 3.4%

Shares of NYSE LEN opened at $115.97 on Friday. The stock has a market cap of $30.04 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 4.92 and a beta of 1.29. The business has a 50 day simple moving average of $110.63 and a 200 day simple moving average of $114.98. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. Lennar’s dividend payout ratio is presently 16.54%.

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.