An issue of Lennar Co. (NYSE:LEN) bonds fell 2.6% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 4.75% coupon and is set to mature on November 15, 2022. The bonds in the issue are now trading at $101.75 and were trading at $100.75 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
LEN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 17th. Citigroup Inc initiated coverage on shares of Lennar in a research report on Tuesday, February 14th. They set a “neutral” rating and a $52.00 price target on the stock. BTIG Research initiated coverage on shares of Lennar in a research report on Tuesday, February 7th. They set a “buy” rating and a $56.00 price target on the stock. Barclays PLC initiated coverage on shares of Lennar in a research report on Thursday, January 5th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, MKM Partners reissued a “neutral” rating on shares of Lennar in a research report on Friday, December 23rd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Lennar currently has a consensus rating of “Buy” and a consensus target price of $53.81.
Shares of Lennar Co. (NYSE:LEN) traded down 0.28% during trading on Monday, reaching $52.68. 3,447,717 shares of the company traded hands. The company has a market capitalization of $12.35 billion, a P/E ratio of 13.39 and a beta of 1.27. The company’s 50-day moving average price is $48.13 and its 200-day moving average price is $44.55. Lennar Co. has a 52 week low of $39.68 and a 52 week high of $53.79.
A number of institutional investors have recently bought and sold shares of the stock. Aristotle Capital Management LLC boosted its position in Lennar by 2.3% in the fourth quarter. Aristotle Capital Management LLC now owns 5,693,761 shares of the company’s stock valued at $244,432,000 after buying an additional 128,010 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Lennar during the fourth quarter valued at about $16,701,000. Thomas J. Herzfeld Advisors Inc. bought a new position in Lennar during the fourth quarter valued at about $2,125,000. Numeric Investors LLC bought a new position in Lennar during the fourth quarter valued at about $1,099,000. Finally, Barings LLC bought a new position in Lennar during the fourth quarter valued at about $768,000. Institutional investors and hedge funds own 79.04% of the company’s stock.
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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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