Lennar Co. (NYSE:LEN) announced a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Shareholders of record on Thursday, July 11th will be paid a dividend of 0.04 per share by the construction company on Thursday, July 25th. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Wednesday, July 10th.
Lennar has a dividend payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Lennar to earn $5.81 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 2.8%.
LEN stock traded down $0.49 during mid-day trading on Friday, reaching $46.27. 2,581,100 shares of the company traded hands, compared to its average volume of 3,799,843. The firm has a market cap of $15.06 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Lennar has a fifty-two week low of $37.29 and a fifty-two week high of $55.13. The company has a 50 day simple moving average of $50.02.
Several equities analysts have commented on LEN shares. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Bank of America initiated coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 785 ($10.26) price target on shares of in a report on Wednesday, June 26th. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a report on Thursday, May 30th. Finally, BTIG Research set a $65.00 price target on shares of Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Lennar presently has a consensus rating of “Buy” and an average target price of $56.89.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the completion of the transaction, the president now directly owns 346,946 shares in the company, valued at $17,014,231.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.43% of the stock is owned by insiders.
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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