Lennar Co. Declares Quarterly Dividend of $0.50 (NYSE:LEN)

Lennar Co. (NYSE:LENGet Free Report) announced a quarterly dividend on Wednesday, April 10th, Wall Street Journal reports. Investors of record on Wednesday, April 24th will be paid a dividend of 0.50 per share by the construction company on Wednesday, May 8th. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Lennar has raised its dividend by an average of 33.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Lennar has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $16.25 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.3%.

Lennar Price Performance

Shares of NYSE:LEN opened at $150.19 on Monday. Lennar has a 12 month low of $102.90 and a 12 month high of $172.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The firm has a market capitalization of $41.80 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.40 and a beta of 1.53. The company’s fifty day moving average price is $159.57 and its 200 day moving average price is $142.78.

Lennar (NYSE:LENGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same period last year, the firm posted $2.12 EPS. Lennar’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Lennar will post 14.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lennar news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently modified their holdings of LEN. Raymond James Trust N.A. raised its holdings in shares of Lennar by 2.3% during the second quarter. Raymond James Trust N.A. now owns 4,144 shares of the construction company’s stock worth $520,000 after purchasing an additional 93 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in shares of Lennar by 2.2% during the third quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock worth $502,000 after purchasing an additional 146 shares during the period. Wetherby Asset Management Inc. raised its holdings in shares of Lennar by 3.7% during the first quarter. Wetherby Asset Management Inc. now owns 4,681 shares of the construction company’s stock worth $380,000 after purchasing an additional 167 shares during the period. Centaurus Financial Inc. increased its holdings in shares of Lennar by 10.7% in the 2nd quarter. Centaurus Financial Inc. now owns 1,744 shares of the construction company’s stock worth $219,000 after acquiring an additional 168 shares during the period. Finally, Dagco Inc. acquired a new stake in shares of Lennar in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LEN. JMP Securities reissued a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research report on Friday, March 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Barclays lifted their target price on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Finally, Citigroup lifted their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Lennar presently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Check Out Our Latest Research Report on Lennar

About Lennar

(Get Free Report)

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.

Further Reading

Dividend History for Lennar (NYSE:LEN)

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