An issue of Lennar Co. (NYSE:LEN) bonds rose 1% against their face value during trading on Thursday after Credit Suisse Group lowered their price target on the stock from $81.00 to $78.00. The high-yield debt issue has a 4.75% coupon and is set to mature on November 29, 2027. The bonds in the issue are now trading at $97.02 and were trading at $96.25 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.
Other analysts have also issued reports about the stock. Wells Fargo raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Tuesday, January 2nd. ValuEngine raised shares of Lennar from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. JPMorgan Chase reaffirmed an “overweight” rating and set a $77.00 price target on shares of Lennar in a research report on Tuesday, February 13th. Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, January 15th. Finally, Mizuho raised shares of Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $68.80.
In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the transaction, the general counsel now directly owns 65,720 shares in the company, valued at $4,570,826. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 222,396 shares in the company, valued at $15,456,522. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,000 shares of company stock worth $10,811,650. Corporate insiders own 8.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Global X Management Co. LLC increased its holdings in shares of Lennar by 15.6% in the fourth quarter. Global X Management Co. LLC now owns 6,474 shares of the construction company’s stock valued at $409,000 after purchasing an additional 876 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Lennar by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 313,127 shares of the construction company’s stock valued at $16,524,000 after acquiring an additional 924 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Lennar by 1.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 64,639 shares of the construction company’s stock valued at $4,088,000 after acquiring an additional 1,167 shares in the last quarter. Corient Capital Partners LLC grew its stake in shares of Lennar by 6.8% in the fourth quarter. Corient Capital Partners LLC now owns 18,387 shares of the construction company’s stock valued at $1,163,000 after acquiring an additional 1,171 shares in the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Lennar by 7.6% in the fourth quarter. FDx Advisors Inc. now owns 17,079 shares of the construction company’s stock valued at $1,080,000 after acquiring an additional 1,212 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
The company has a current ratio of 8.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80. The company has a market cap of $15,074.22, a P/E ratio of 16.16, a PEG ratio of 0.63 and a beta of 1.23.
Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company posted $0.59 earnings per share. Lennar’s revenue was up 27.5% compared to the same quarter last year. equities research analysts forecast that Lennar Co. will post 5.48 EPS for the current fiscal year.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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