Legacy Trust Purchases 599 Shares of Lennar Co. (NYSE:LEN)

Legacy Trust raised its position in shares of Lennar Co. (NYSE:LEN) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,481 shares of the construction company’s stock after buying an additional 599 shares during the period. Lennar comprises 1.6% of Legacy Trust’s portfolio, making the stock its 23rd biggest position. Legacy Trust’s holdings in Lennar were worth $6,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LEN. Oakworth Capital Inc. acquired a new stake in Lennar in the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC grew its stake 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 purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in Lennar in the 3rd quarter worth approximately $30,000. Asset Dedication LLC lifted its holdings in Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN opened at $132.11 on Thursday. The firm’s 50 day moving average price is $148.35 and its two-hundred day moving average price is $166.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a twelve month low of $128.41 and a twelve month high of $193.80. The firm has a market cap of $35.83 billion, a P/E ratio of 9.21, a PEG ratio of 1.32 and a beta of 1.66.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period in the previous year, the company posted $4.82 earnings per share. Lennar’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts forecast that Lennar Co. will post 13.02 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LEN shares. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Wedbush reaffirmed a “neutral” rating and set a $164.00 target price on shares of Lennar in a report on Thursday, December 19th. Barclays cut their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Citigroup decreased their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $168.38.

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.