Lennar (LEN) Lifted to Overweight at Barclays
Lennar (NYSE:LEN) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a $72.00 target price on the construction company’s stock, up from their prior target price of $68.00. Barclays’ price objective suggests a potential upside of 21.81% from the company’s current price.
Other research analysts also recently issued research reports about the company. UBS Group initiated coverage on Lennar in a research note on Wednesday, October 25th. They set a “buy” rating for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Lennar in a research note on Thursday, January 11th. Royal Bank of Canada set a $82.00 price objective on Lennar and gave the company a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, January 16th. Finally, Mizuho raised Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Lennar has an average rating of “Buy” and an average target price of $66.07.
Lennar (NYSE LEN) opened at $59.11 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. The company has a market capitalization of $13,760.00, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.26. Lennar has a 52 week low of $44.65 and a 52 week high of $72.17.
In other Lennar news, CFO Bruce E. Gross sold 9,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total transaction of $648,000.00. Following the completion of the sale, the chief financial officer now owns 346,043 shares of the company’s stock, valued at approximately $24,915,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Diane J. Bessette sold 10,000 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 222,396 shares of the company’s stock, valued at approximately $15,456,522. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock valued at $12,392,050 in the last three months. Insiders own 12.18% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Squar Milner Financial Services LLC acquired a new stake in Lennar during the 4th quarter valued at approximately $221,000. Chartist Inc. CA acquired a new stake in Lennar during the 4th quarter valued at approximately $228,000. Independence Bank of Kentucky acquired a new stake in Lennar during the 4th quarter valued at approximately $153,000. Global X Management Co. LLC increased its position in Lennar by 15.6% during the 4th 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 period. Finally, Toronto Dominion Bank increased its position in Lennar by 14.2% during the 4th quarter. Toronto Dominion Bank now owns 88,013 shares of the construction company’s stock valued at $5,566,000 after purchasing an additional 10,940 shares during the period. 80.79% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.