Lennar Co. (LEN) To Go Ex-Dividend on April 23rd

Lennar Co. (NYSE:LENGet Free Report) announced a quarterly dividend on Wednesday, April 10th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Lennar has raised its dividend payment by an average of 33.9% annually over the last three years and has raised its dividend every year for the last 1 years. Lennar has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of LEN opened at $159.46 on Friday. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $159.44 and its 200-day moving average price is $140.58. Lennar has a 52 week low of $102.90 and a 52 week high of $172.59. The stock has a market cap of $44.38 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.46 and a beta of 1.53.

Lennar (NYSE:LENGet Free Report) last announced its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.39 billion. During the same period in the previous year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts anticipate that Lennar will post 14.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LEN. Citigroup boosted their price objective on shares of Lennar from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wedbush restated an “underperform” rating and issued a $144.00 price objective on shares of Lennar in a report on Tuesday, April 2nd. Raymond James boosted their target price on shares of Lennar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Wells Fargo & Company boosted their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Royal Bank of Canada decreased their target price on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Get Our Latest Analysis on LEN

Insiders Place Their Bets

In related news, Director Amy Banse bought 1,575 shares of the business’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 purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Several large investors have recently bought and sold shares of the business. First Trust Advisors LP grew its stake in shares of Lennar by 551.1% in the 1st quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock valued at $191,793,000 after buying an additional 1,544,432 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Lennar by 25.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 838,479 shares of the construction company’s stock valued at $88,134,000 after buying an additional 171,065 shares during the period. Prudential Financial Inc. grew its stake in shares of Lennar by 65.5% in the 1st quarter. Prudential Financial Inc. now owns 790,021 shares of the construction company’s stock valued at $64,127,000 after buying an additional 312,595 shares during the period. Bamco Inc. NY grew its stake in shares of Lennar by 77.3% in the 4th quarter. Bamco Inc. NY now owns 535,325 shares of the construction company’s stock valued at $48,447,000 after buying an additional 233,455 shares during the period. Finally, National Pension Service grew its stake in shares of Lennar by 2.9% in the 1st quarter. National Pension Service now owns 457,801 shares of the construction company’s stock valued at $37,160,000 after buying an additional 13,101 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.

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Dividend History for Lennar (NYSE:LEN)

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