Lennar Corporation (NYSE:LEN) Plans $0.50 Quarterly Dividend

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Thursday, June 25th. Shareholders of record on Friday, July 10th will be paid a dividend of 0.50 per share by the construction company on Friday, July 24th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 10th.

Lennar has increased its dividend by an average of 0.8%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Lennar has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lennar to earn $7.11 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 28.1%.

Lennar Price Performance

NYSE LEN opened at $93.78 on Friday. The firm’s fifty day simple moving average is $89.68 and its two-hundred day simple moving average is $100.67. The firm has a market capitalization of $23.16 billion, a P/E ratio of 14.68, a P/E/G ratio of 3.05 and a beta of 1.39. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Lennar has a 12-month low of $81.18 and a 12-month high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter last year, the firm earned $1.81 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Lennar will post 5.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently bought and sold shares of LEN. Lazard Asset Management LLC increased its holdings in shares of Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the last quarter. Rossby Financial LCC lifted its position in Lennar by 9.1% in the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after buying an additional 88 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Lennar by 1.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after acquiring an additional 100 shares during the last quarter. Provenance Wealth Advisors LLC raised its stake in shares of Lennar by 23.8% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock valued at $78,000 after acquiring an additional 119 shares during the period. Finally, One Wealth Capital Management LLC boosted its position in shares of Lennar by 6.4% during the 3rd quarter. One Wealth Capital Management LLC now owns 1,972 shares of the construction company’s stock worth $249,000 after purchasing an additional 119 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.