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

Lennar Co. (NYSE:LENGet Free Report) declared a quarterly dividend on Thursday, June 20th, NASDAQ reports. Shareholders of record on Friday, July 5th will be paid a dividend of 0.50 per share by the construction company on Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, July 5th.

Lennar has raised its dividend by an average of 33.9% per year over the last three years. Lennar has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. 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

NYSE LEN traded up $2.24 on Friday, reaching $151.55. 3,882,221 shares of the stock traded hands, compared to its average volume of 2,089,778. The firm’s fifty day simple moving average is $156.70 and its 200 day simple moving average is $154.78. The company has a quick ratio of 1.27, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.18 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 1.39 and a beta of 1.56. Lennar has a 12 month low of $102.90 and a 12 month high of $172.59.

Insider Transactions at Lennar

In other Lennar news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy Banse acquired 1,575 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 over the last quarter. Company insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LEN. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group increased their price target on Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Barclays raised their price objective on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Royal Bank of Canada reissued an “underperform” rating and set a $145.00 price objective on shares of Lennar in a research note on Thursday. Finally, Wedbush reissued an “underperform” rating and set a $144.00 price objective on shares of Lennar in a research note on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $166.47.

Read Our Latest Research Report on LEN

Lennar Company Profile

(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)

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.