Lennar (NYSE:LEN) Major Shareholder Purchases 667,118 Shares

Lennar Corporation (NYSE:LEN - Get Free Report) major shareholder Berkshire Hathaway Inc acquired 667,118 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average cost of $77.74 per share, for a total transaction of $51,861,753.32. Following the completion of the purchase, the insider directly owned 23,719,109 shares in the company, valued at $1,843,923,533.66. This represents a 2.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

• Lennar’s Earnings Miss May Be Sending a Bigger Warning About U.S. Housing

Berkshire Hathaway Inc also recently made the following trade(s):

• On Friday, September 18th, Berkshire Hathaway Inc bought 1,381,397 shares of Lennar stock. The shares were bought at an average cost of $76.48 per share, with a total value of $105,649,242.56.
• On Thursday, September 17th, Berkshire Hathaway Inc purchased 695,014 shares of Lennar stock. The stock was purchased at an average cost of $78.98 per share, for a total transaction of $54,892,205.72.

Lennar Price Performance

Shares of Lennar stock opened at $78.00 on Tuesday. The company has a current ratio of 4.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $84.05 and a 200-day simple moving average of $88.09. The stock has a market capitalization of $18.79 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.56 and a beta of 1.39. Lennar Corporation has a 1-year low of $75.70 and a 1-year high of $133.76.

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• Lennar's Q3 Miss Hides a Stronger Operating Story Beneath the Housing Slump

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.06). The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. Lennar had a net margin of 4.09% and a return on equity of 6.15%. The business's quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. On average, sell-side analysts expect that Lennar Corporation will post 5.46 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.6%. Lennar's dividend payout ratio is presently 37.81%.

Wall Street Analyst Weigh In

• Homebuilders Are Down for the Year, Is Wall Street in Denial?

LEN has been the subject of a number of research analyst reports. UBS Group cut their price target on Lennar from $107.00 to $94.00 and set a "neutral" rating for the company in a report on Tuesday, June 16th. Wells Fargo & Company dropped their target price on shares of Lennar from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. Citigroup cut their target price on shares of Lennar from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday. Benchmark raised shares of Lennar to a "hold" rating in a report on Thursday, September 3rd. Finally, Citizens Jmp restated a "hold" rating on shares of Lennar in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of "Reduce" and a consensus price target of $81.77.

Read Our Latest Stock Analysis on LEN

Institutional Trading of Lennar

Several institutional investors have recently modified their holdings of the company. MUFG Securities EMEA plc raised its stake in shares of Lennar by 2,522.7% in the fourth quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company's stock valued at $11,744,000 after purchasing an additional 109,889 shares in the last quarter. Element Capital Management LLC acquired a new stake in Lennar during the fourth quarter worth $6,437,000. Myriad Asset Management Advisors LLC bought a new stake in Lennar in the 4th quarter valued at $1,511,000. Cutler Investment Counsel LLC increased its holdings in Lennar by 59.3% in the 4th quarter. Cutler Investment Counsel LLC now owns 42,464 shares of the construction company's stock valued at $4,365,000 after buying an additional 15,802 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Lennar by 77.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 89,178 shares of the construction company's stock valued at $8,070,000 after buying an additional 38,822 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Trending Headlines about Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway made substantial purchases. The major shareholder bought a combined 2.74 million Lennar shares across September 17, 18 and 21 for approximately $212 million, increasing its direct stake to 23.7 million shares. The purchases may improve investor confidence by signaling that Berkshire views the depressed valuation as attractive. SEC ownership filing
• Neutral Sentiment: Lennar acquired 444 lots near TSMC’s Phoenix-area project for $60 million. The land position could provide exposure to employment and population growth tied to the semiconductor investment, although it is unlikely to materially affect near-term results. Lennar Phoenix lots article
• Negative Sentiment: Third-quarter results highlighted profitability and demand concerns. Lennar reported adjusted EPS of $1.23, below the $1.29 consensus, while revenue of $8.05 billion missed expectations of $8.32 billion and declined 8.7% year over year. Gross margin on home sales was 15.8%, as elevated incentives needed to preserve affordability offset lower construction costs. Barron's Lennar earnings article
• Negative Sentiment: Management reduced its annual delivery forecast. Lennar now expects to deliver 80,000–81,000 homes, down from its prior 82,000–83,000 target. The revision reinforces concerns that high mortgage rates and weak affordability are limiting demand and forcing heavier buyer incentives. Lennar delivery forecast article
• Negative Sentiment: Citigroup lowered its price target from $88 to $85 and maintained a neutral rating. Although the revised target implies potential upside from recent trading levels, the cut reflects reduced expectations following Lennar’s earnings miss. A separate Royal Bank of Canada outlook was also described as pessimistic. Royal Bank of Canada Lennar forecast

About Lennar

(Get Free Report)

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country's major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.

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