Lennar Co. (NYSE:LEN) announced a quarterly dividend on Thursday, January 11th, NASDAQ reports. Stockholders of record on Friday, January 26th will be paid a dividend of 0.04 per share by the construction company on Friday, February 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Thursday, January 25th.
Lennar has a payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $6.01 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 2.7%.
Shares of Lennar (NYSE LEN) opened at $71.82 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The stock has a market cap of $16,595.24, a price-to-earnings ratio of 21.00, a PEG ratio of 1.03 and a beta of 1.35. Lennar has a 52 week low of $42.75 and a 52 week high of $72.07.
LEN has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $64.00 price objective on shares of Lennar in a research note on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Lennar in a research note on Tuesday, September 26th. MKM Partners raised shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, October 4th. Citigroup reaffirmed a “neutral” rating and set a $59.00 target price (up from $57.00) on shares of Lennar in a research note on Wednesday, October 4th. Finally, Bank of America raised their target price on shares of Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Lennar currently has a consensus rating of “Buy” and a consensus target price of $63.93.
In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce E. Gross sold 1,000 shares of Lennar stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief financial officer now directly owns 356,043 shares of the company’s stock, valued at $25,635,096. The disclosure for this sale can be found here. Insiders have sold 171,000 shares of company stock valued at $11,744,050 over the last ninety days. 12.18% of the stock is currently owned by corporate insiders.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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