Lennar Co. (NYSE:LEN – Get Rating) declared a quarterly dividend on Thursday, January 12th, Zacks reports. Investors of record on Friday, January 27th will be given a dividend of 0.375 per share by the construction company on Friday, February 10th. This represents a $1.50 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 26th.
Lennar has increased its dividend by an average of 110.9% per year over the last three years and has increased its dividend every year for the last 1 years. Lennar has a dividend payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $9.74 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 15.4%.
Lennar Stock Performance
Lennar stock opened at $99.09 on Wednesday. The firm has a market capitalization of $28.85 billion, a P/E ratio of 6.29, a PEG ratio of 10.59 and a beta of 1.38. The stock has a fifty day moving average price of $91.15 and a 200 day moving average price of $83.90. Lennar has a 52 week low of $62.54 and a 52 week high of $101.27. The company has a current ratio of 7.46, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on LEN. Bank of America raised Lennar from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $92.00 to $102.00 in a research report on Wednesday, January 11th. JPMorgan Chase & Co. boosted their price target on Lennar from $73.00 to $97.00 and gave the company a “neutral” rating in a research report on Tuesday, November 22nd. StockNews.com began coverage on Lennar in a research report on Wednesday, October 12th. They set a “hold” rating for the company. JMP Securities lowered their price target on Lennar from $130.00 to $115.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 4th. Finally, BTIG Research upped their target price on Lennar from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.53.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lennar by 3.4% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,138 shares of the construction company’s stock valued at $681,000 after purchasing an additional 302 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Lennar in the first quarter valued at about $660,000. Toroso Investments LLC raised its stake in Lennar by 60.1% during the first quarter. Toroso Investments LLC now owns 7,388 shares of the construction company’s stock valued at $600,000 after buying an additional 2,772 shares in the last quarter. Pathstone Family Office LLC raised its stake in Lennar by 52.0% during the third quarter. Pathstone Family Office LLC now owns 8,018 shares of the construction company’s stock valued at $598,000 after buying an additional 2,744 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in Lennar by 34.5% during the first quarter. Horizon Investments LLC now owns 7,028 shares of the construction company’s stock valued at $568,000 after buying an additional 1,804 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.
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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