Lennar Corporation (LEN) To Go Ex-Dividend on February 4th

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Wednesday, January 21st. Investors of record on Wednesday, February 4th will be paid a dividend of 0.50 per share by the construction company on Thursday, February 19th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, February 4th.

Lennar has raised its dividend payment by an average of 0.8%annually over the last three years and has increased its dividend every year for the last 1 years. Lennar has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. 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 Down 2.7%

Lennar stock opened at $114.76 on Friday. The company has a 50 day moving average price of $116.42 and a 200 day moving average price of $121.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. Lennar has a 52 week low of $98.42 and a 52 week high of $144.24. The firm has a market capitalization of $29.27 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.73 and a beta of 1.42.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $4.03 EPS. Research analysts forecast that Lennar will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LEN. Viking Global Investors LP grew its holdings in Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after buying an additional 603,004 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Lennar in the 2nd quarter valued at $25,440,000. Todd Asset Management LLC acquired a new position in Lennar during the 3rd quarter worth $26,371,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Lennar by 319.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock valued at $34,557,000 after acquiring an additional 208,800 shares during the period. 81.10% of the stock is owned by 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.