Lennar Corp. (len) to Issue $0.04 Quarterly Dividend
Lennar Corp. (NYSE:len) declared a quarterly dividend on Thursday, September 22nd. Stockholders of record on Wednesday, October 5th will be given a dividend of 0.04 per share on Thursday, October 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, October 3rd.
Shares of Lennar Corp. (NYSE:LEN) traded down 0.722% during trading on Friday, reaching $43.285. The company’s stock had a trading volume of 1,359,017 shares. The stock’s 50-day moving average is $46.22 and its 200-day moving average is $46.44. The stock has a market cap of $9.49 billion, a P/E ratio of 11.388 and a beta of 1.37. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.34% and a net margin of 8.37%. The business earned $2.83 billion during the quarter. During the same period last year, the company posted $0.96 earnings per share. Lennar Corp.’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. raised its stake in Lennar Corp. by 13.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,219,725 shares of the company’s stock worth $56,230,000 after buying an additional 141,325 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Lennar Corp. by 14.8% in the second quarter. Pictet Asset Management Ltd. now owns 479,553 shares of the company’s stock worth $21,853,000 after buying an additional 61,689 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Lennar Corp. by 25.6% in the second quarter. Parametric Portfolio Associates LLC now owns 431,337 shares of the company’s stock worth $19,885,000 after buying an additional 87,877 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Lennar Corp. by 712.3% in the second quarter. Thrivent Financial for Lutherans now owns 341,558 shares of the company’s stock worth $15,746,000 after buying an additional 299,508 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Lennar Corp. by 2.0% in the second quarter. Alliancebernstein L.P. now owns 326,590 shares of the company’s stock worth $15,056,000 after buying an additional 6,376 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.
LEN has been the subject of a number of analyst reports. RBC Capital Markets reaffirmed a “buy” rating and issued a $55.00 price target (down from $64.00) on shares of Lennar Corp. in a report on Wednesday. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, August 24th. Argus assumed coverage on Lennar Corp. in a report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price target for the company. Bank of America Corp. set a $52.00 price objective on Lennar Corp. and gave the company a “buy” rating in a research note on Tuesday. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.03.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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