Lennar Co. (LEN) To Go Ex-Dividend on July 5th

Lennar Co. (NYSE:LEN) 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 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, July 5th.

Lennar has increased its dividend payment by an average of 33.9% annually over the last three years. Lennar has a 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 Stock Performance

NYSE:LEN opened at $143.61 on Wednesday. The stock has a market capitalization of $39.97 billion, a P/E ratio of 9.76, a PEG ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The company has a 50 day moving average price of $156.11 and a 200 day moving average price of $155.47.

Insider Buying and Selling at Lennar

In other news, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction dated 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 purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. In the last three months, insiders have sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LEN has been the topic of several research analyst reports. Evercore ISI cut 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. JMP Securities reissued a “market outperform” rating and set a $170.00 price target on shares of Lennar in a research report on Thursday, June 20th. Argus lifted their price objective on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 27th. BTIG Research reduced their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Finally, Wells Fargo & Company raised their price target on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.