Lennar Corporation (NYSE:LEN) Declares Quarterly Dividend of $0.50

Key Points

• Lennar Corporation declared a quarterly dividend of $0.50 per share, payable on October 27th, representing an annualized dividend of $2.00 with a yield of 1.6%.
• As of now, Lennar's institutional investors own 81.10% of the company's stock, indicating strong support from large investors.

Lennar Corporation (NYSE:LEN - Get Free Report) declared a quarterly dividend on Friday, September 26th, RTT News reports. Stockholders of record on Friday, October 10th will be given a dividend of 0.50 per share by the construction company on Monday, October 27th. This represents a c) annualized dividend and a dividend yield of 1.6%.

Lennar has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $15.55 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 12.9%.

Lennar Trading Up 1.7%

Shares of NYSE:LEN traded up $2.06 during trading on Friday, reaching $126.08. 2,427,209 shares of the stock were exchanged, compared to its average volume of 4,128,685. The firm's 50-day moving average price is $127.39 and its 200 day moving average price is $116.04. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 5.55 and a beta of 1.33. Lennar has a 12-month low of $98.42 and a 12-month high of $189.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $9.01 billion. During the same period in the previous year, the company posted $3.90 earnings per share. Lennar's revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in shares of Lennar during the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new position in Lennar in the first quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in shares of Lennar during the first quarter valued at approximately $33,000. FNY Investment Advisers LLC acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $33,000. Finally, Franchise Capital Ltd bought a new stake in shares of Lennar in the 1st quarter worth approximately $38,000. Institutional investors own 81.10% of the company's stock.

Lennar Company Profile

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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