Lennar (LEN) Bonds Trading 0.5% Higher

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An issue of Lennar Co. (NYSE:LEN) bonds rose 0.5% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 4.75% coupon and is set to mature on May 30, 2025. The debt is now trading at $99.00. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.

A number of equities analysts recently weighed in on LEN shares. Wedbush reissued a “neutral” rating and set a $56.00 target price (down previously from $62.00) on shares of Lennar in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, June 5th. ValuEngine cut shares of Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Citigroup restated a “buy” rating and issued a $65.00 price target on shares of Lennar in a report on Wednesday, June 27th. Finally, MKM Partners reduced their price target on shares of Lennar to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Lennar has an average rating of “Buy” and an average target price of $71.69.

NYSE:LEN opened at $52.69 on Thursday. The company has a quick ratio of 0.76, a current ratio of 11.81 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.44 and a beta of 1.29. Lennar Co. has a 12 month low of $48.71 and a 12 month high of $72.17.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $1.13. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Lennar had a net margin of 6.49% and a return on equity of 12.82%. The business’s revenue was up 67.4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. research analysts anticipate that Lennar Co. will post 6.1 EPS for the current year.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the completion of the transaction, the chief operating officer now directly owns 212,333 shares in the company, valued at $11,066,795.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LEN. Verity Asset Management Inc. acquired a new position in shares of Lennar during the first quarter valued at about $1,806,000. FDx Advisors Inc. grew its holdings in shares of Lennar by 21.9% during the first quarter. FDx Advisors Inc. now owns 20,817 shares of the construction company’s stock valued at $1,227,000 after buying an additional 3,738 shares during the last quarter. Tower Bridge Advisors grew its holdings in shares of Lennar by 4.3% during the first quarter. Tower Bridge Advisors now owns 187,551 shares of the construction company’s stock valued at $11,054,000 after buying an additional 7,653 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Lennar by 46.2% during the first quarter. Daiwa Securities Group Inc. now owns 9,232 shares of the construction company’s stock valued at $544,000 after buying an additional 2,916 shares during the last quarter. Finally, Dupont Capital Management Corp grew its holdings in shares of Lennar by 117.2% during the first quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock valued at $165,000 after buying an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Lennar Company Profile (NYSE:LEN)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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