Lennar (NYSE:LEN) Major Shareholder Purchases $39,921,098.88 in Stock

Lennar Corporation (NYSE:LEN - Get Free Report) major shareholder Berkshire Hathaway Inc bought 492,124 shares of Lennar stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average price of $81.12 per share, for a total transaction of $39,921,098.88. Following the completion of the acquisition, the insider directly owned 25,378,134 shares of the company's stock, valued at $2,058,674,230.08. The trade was a 1.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• On Thursday, September 24th, Berkshire Hathaway Inc bought 653,320 shares of Lennar stock. The shares were purchased at an average cost of $80.88 per share, with a total value of $52,840,521.60.
• On Wednesday, September 23rd, Berkshire Hathaway Inc purchased 534,256 shares of Lennar stock. The shares were purchased at an average price of $81.65 per share, with a total value of $43,622,002.40.
• On Monday, September 21st, Berkshire Hathaway Inc purchased 667,118 shares of Lennar stock. The stock was purchased at an average price of $77.74 per share, for a total transaction of $51,861,753.32.
• On Friday, September 18th, Berkshire Hathaway Inc acquired 1,381,397 shares of Lennar stock. The stock was purchased at an average cost of $76.48 per share, for a total transaction of $105,649,242.56.
• On Thursday, September 17th, Berkshire Hathaway Inc acquired 695,014 shares of Lennar stock. The shares were purchased at an average price of $78.98 per share, with a total value of $54,892,205.72.

Lennar Price Performance

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Shares of NYSE LEN opened at $82.12 on Friday. The company has a market capitalization of $19.78 billion, a PE ratio of 15.52, a P/E/G ratio of 3.08 and a beta of 1.39. The company has a quick ratio of 0.69, a current ratio of 4.94 and a debt-to-equity ratio of 0.20. Lennar Corporation has a twelve month low of $75.70 and a twelve month high of $133.76. The firm has a fifty day simple moving average of $83.83 and a 200 day simple moving average of $87.58.

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

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the company posted $2.29 EPS. The business's revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lennar Corporation will post 4.85 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar's dividend payout ratio is presently 37.81%.

Institutional Inflows and Outflows

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its position in shares of Lennar by 1,276.4% during the second quarter. Anchor Investment Management LLC now owns 757 shares of the construction company's stock worth $69,000 after purchasing an additional 702 shares during the period. Sequoia Financial Advisors LLC grew its position in Lennar by 5.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,609 shares of the construction company's stock valued at $1,322,000 after purchasing an additional 735 shares during the period. Van Hulzen Asset Management LLC bought a new stake in Lennar during the 2nd quarter valued at $317,000. Cidel Asset Management Inc. raised its holdings in Lennar by 15.6% during the second quarter. Cidel Asset Management Inc. now owns 4,873 shares of the construction company's stock worth $441,000 after buying an additional 657 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Lennar in the second quarter valued at $232,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LEN shares. Wells Fargo & Company dropped their price target on Lennar from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, September 11th. Citigroup reduced their price objective on shares of Lennar from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, September 21st. Benchmark upgraded shares of Lennar to a "hold" rating in a research note on Thursday, September 3rd. Truist Financial dropped their target price on shares of Lennar from $80.00 to $75.00 and set a "hold" rating on the stock in a research report on Wednesday, September 16th. Finally, Argus set a $108.00 price target on shares of Lennar in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $81.00.

Get Our Latest Stock Report on Lennar

Key Headlines Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway disclosed a purchase worth approximately $212.38 million, increasing its Lennar ownership above 10%. The investment by Warren Buffett’s company is a strong institutional vote of confidence and suggests Berkshire views Lennar’s depressed valuation and housing supply position as attractive. Lennar Shares Jumped After Berkshire Hathaway Increased Its Position
• Positive Sentiment: The company declared a quarterly dividend of $0.50 per share, or $2.00 annualized, representing an approximately 2.5% yield. The payout reinforces Lennar’s shareholder-return profile, although the ex-dividend date is October 7.
• Positive Sentiment: Lennar is expanding its geographic footprint by opening an Iowa division with five communities in the Des Moines area. New communities could support longer-term revenue and order growth if local demand remains healthy. Lennar’s New Iowa Division Opens Five Des Moines-Area Communities
• Neutral Sentiment: Lennar announced Venue at Leaf Creek, a 55-and-over community in Douglassville, Pennsylvania, highlighting continued development activity and product expansion. The announcement is strategically supportive but does not provide material financial guidance. Lennar’s Venue at Leaf Creek Announcement
• Negative Sentiment: Recent earnings missed expectations, revenue declined year over year, and Lennar cut its outlook. The weaker operating backdrop reflects pressure from mortgage rates, affordability challenges and softer housing demand.
• Negative Sentiment: Jim Cramer remained cautious on Lennar and the broader homebuilding sector, emphasizing the adverse impact of interest-rate uncertainty on housing activity. Keefe, Bruyette & Woods also issued a pessimistic forecast for the stock. Jim Cramer’s Lennar Commentary
• Negative Sentiment: Lennar’s lawsuit involving a rejected 265-unit condominium project in Geneva is moving forward, creating legal uncertainty and potentially delaying development plans.

Lennar Company Profile

(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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