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

Lennar Co. (NYSE:LEN) announced a quarterly dividend on Thursday, June 20th, NASDAQ reports. Shareholders 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 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, July 5th.

Lennar has increased its dividend by an average of 33.9% annually over the last three years. Lennar has a payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Equities 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

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on LEN. Evercore ISI dropped their price objective on Lennar from $238.00 to $237.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Barclays boosted their price target on Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada reiterated an “underperform” rating and issued a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. BTIG Research lowered their price target on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $166.69.

Insider Activity

In other news, Director Amy Banse acquired 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, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,861,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the sale, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock worth $4,841,039 over the last 90 days. 9.36% of the stock is currently owned by company insiders.

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.