Lennar Co. (LEN) To Go Ex-Dividend on January 26th

Lennar Co. (NYSE:LENGet Rating) announced a quarterly dividend on Thursday, January 12th, Zacks reports. Shareholders of record on Friday, January 27th will be paid a dividend of 0.375 per share by the construction company on Friday, February 10th. This represents a $1.50 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, January 26th.

Lennar has increased its dividend by an average of 110.9% annually over the last three years and has raised its dividend every year for the last 1 years. Lennar has a payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. 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

Shares of NYSE LEN opened at $97.53 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.48 and a current ratio of 7.46. The company has a market cap of $28.40 billion, a P/E ratio of 6.19, a P/E/G ratio of 10.50 and a beta of 1.38. The firm’s fifty day moving average is $90.93 and its two-hundred day moving average is $83.75. Lennar has a 52-week low of $62.54 and a 52-week high of $101.27.

Lennar (NYSE:LENGet Rating) last announced its quarterly earnings results on Wednesday, December 14th. The construction company reported $5.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.10. Lennar had a net margin of 13.70% and a return on equity of 22.87%. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $10.24 billion. As a group, analysts anticipate that Lennar will post 9.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Lennar

Large investors have recently modified their holdings of the business. Moors & Cabot Inc. bought a new stake in shares of Lennar in the 1st quarter valued at about $200,000. Golden State Wealth Management LLC raised its holdings in shares of Lennar by 42.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,205 shares of the construction company’s stock valued at $324,000 after purchasing an additional 953 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its stake in shares of Lennar by 51.6% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,457 shares of the construction company’s stock worth $281,000 after acquiring an additional 1,177 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Lennar during the 1st quarter worth approximately $318,000. Finally, Wetherby Asset Management Inc. raised its stake in shares of Lennar by 3.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 4,681 shares of the construction company’s stock worth $380,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

LEN has been the subject of a number of recent research reports. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Friday, October 21st. BTIG Research lifted their price objective on shares of Lennar from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, December 6th. Citigroup lifted their price objective on shares of Lennar from $103.00 to $113.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Bank of America raised shares of Lennar from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $92.00 to $102.00 in a research note on Wednesday, January 11th. Finally, JMP Securities dropped their price target on shares of Lennar from $130.00 to $115.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.53.

Lennar Company Profile

(Get Rating)

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.

See Also

Dividend History for Lennar (NYSE:LEN)

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Lennar Co. (LEN) To Go Ex-Dividend on January 26th

Lennar Co. (NYSE:LENGet Rating) announced 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 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, January 26th.

Lennar has increased its dividend by an average of 110.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Lennar has a payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. 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 Up 0.9 %

NYSE LEN opened at $97.53 on Tuesday. The stock has a market cap of $28.40 billion, a PE ratio of 6.19, a P/E/G ratio of 10.50 and a beta of 1.38. Lennar has a fifty-two week low of $62.54 and a fifty-two week high of $101.27. The business has a 50 day moving average price of $90.93 and a two-hundred day moving average price of $83.75. The company has a quick ratio of 1.48, a current ratio of 7.46 and a debt-to-equity ratio of 0.17.

Lennar (NYSE:LENGet Rating) last released its quarterly earnings results on Wednesday, December 14th. The construction company reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $0.10. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $10.24 billion. Lennar had a return on equity of 22.87% and a net margin of 13.70%. As a group, sell-side analysts predict that Lennar will post 9.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Industrial Alliance Investment Management Inc. increased its holdings in shares of Lennar by 2.2% during the third quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock valued at $502,000 after purchasing an additional 146 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Lennar by 3.4% during 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 period. Kentucky Retirement Systems increased its holdings in shares of Lennar by 4.0% during the third quarter. Kentucky Retirement Systems now owns 19,960 shares of the construction company’s stock valued at $1,488,000 after purchasing an additional 765 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Lennar by 61.6% during the third quarter. CreativeOne Wealth LLC now owns 6,656 shares of the construction company’s stock valued at $496,000 after purchasing an additional 2,537 shares during the period. Finally, Pathstone Family Office LLC increased its holdings in shares of 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 purchasing an additional 2,744 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LEN shares. Barclays upgraded Lennar from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $85.00 to $116.00 in a research note on Wednesday, December 14th. JMP Securities reduced their target price on Lennar from $130.00 to $115.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 4th. JPMorgan Chase & Co. increased their target price on Lennar from $73.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, November 22nd. Royal Bank of Canada cut Lennar from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $79.00 to $76.00 in a research note on Friday, January 13th. Finally, BTIG Research upped their price target on Lennar from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.53.

Lennar Company Profile

(Get Rating)

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.

See Also

Dividend History for Lennar (NYSE:LEN)

Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.