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

Lennar Co. (NYSE:LENGet Free Report) announced a quarterly dividend on Thursday, June 20th, NASDAQ reports. Stockholders 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 dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, July 5th.

Lennar has raised its dividend payment by an average of 33.9% per year over the last three years. Lennar has a 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

Lennar stock traded up $2.24 during trading on Friday, reaching $151.55. The company had a trading volume of 3,882,221 shares, compared to its average volume of 2,089,778. The firm’s 50-day simple moving average is $156.70 and its 200 day simple moving average is $154.78. Lennar has a 1-year low of $102.90 and a 1-year high of $172.59. The firm has a market capitalization of $42.18 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 4.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an “underperform” rating and issued a $144.00 price target on shares of Lennar in a research note on Tuesday. Barclays lifted their price target on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a research report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $166.47.

Get Our Latest Stock Report on Lennar

Insider Buying and Selling

In other Lennar news, Director Amy Banse purchased 1,575 shares of Lennar 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 transaction, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, 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 can be accessed through this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock worth $4,841,039 in the last three months. 9.36% of the stock is owned by insiders.

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.

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Dividend History for Lennar (NYSE:LEN)

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