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

Lennar Co. (NYSE:LEN) announced a quarterly dividend on Thursday, June 20th, NASDAQ reports. Investors of record on Friday, July 5th will be given 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 1.39%. The ex-dividend date of this dividend is Friday, July 5th.

Lennar has raised its dividend by an average of 33.9% annually over the last three years. Lennar has a dividend payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lennar to earn $16.12 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 12.4%.

Lennar Price Performance

NYSE:LEN opened at $143.41 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock’s 50-day simple moving average is $155.87 and its 200 day simple moving average is $155.43. The company has a market cap of $39.92 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.60. Lennar has a 52-week low of $102.90 and a 52-week high of $172.59.

Insider Buying and Selling at Lennar

In other news, Director Amy Banse acquired 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse purchased 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The shares were bought at an average price 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 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 worth $4,841,039 over the last three months. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LEN. Deutsche Bank Aktiengesellschaft lifted their target price on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. Wedbush reissued an “underperform” rating and set a $144.00 price target on shares of Lennar in a research report on Tuesday, June 18th. Oppenheimer reissued a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. JPMorgan Chase & Co. lowered their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, UBS Group boosted their price target on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $166.69.

Lennar Company Profile

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.