Lennar (NYSE:LEN) Major Shareholder Berkshire Hathaway Inc Acquires 5,200 Shares of Stock

Lennar Corporation (NYSE:LEN - Get Free Report) major shareholder Berkshire Hathaway Inc bought 5,200 shares of the company's stock in a transaction dated Monday, September 28th. The stock was bought at an average cost of $81.96 per share, for a total transaction of $426,192.00. Following the acquisition, the insider owned 25,383,334 shares of the company's stock, valued at approximately $2,080,418,054.64. This trade represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

• Is the Fed Playing Chess With Rates—Or Just Behind the Curve Again?

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

• On Wednesday, September 30th, Berkshire Hathaway Inc purchased 642,821 shares of Lennar stock. The shares were bought at an average cost of $81.58 per share, with a total value of $52,441,337.18.
• On Tuesday, September 29th, Berkshire Hathaway Inc acquired 12,389 shares of Lennar stock. The stock was purchased at an average price of $81.93 per share, for a total transaction of $1,015,030.77.
• On Friday, September 25th, Berkshire Hathaway Inc acquired 492,124 shares of Lennar stock. The stock was purchased at an average cost of $81.12 per share, for a total transaction of $39,921,098.88.
• On Thursday, September 24th, Berkshire Hathaway Inc acquired 653,320 shares of Lennar stock. The shares were purchased at an average price of $80.88 per share, with a total value of $52,840,521.60.
• On Wednesday, September 23rd, Berkshire Hathaway Inc bought 534,256 shares of Lennar stock. The stock was purchased at an average cost of $81.65 per share, for a total transaction of $43,622,002.40.
• On Monday, September 21st, Berkshire Hathaway Inc purchased 667,118 shares of Lennar stock. The shares were 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 purchased 1,381,397 shares of Lennar stock. The shares were purchased 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 acquired 695,014 shares of Lennar stock. The stock was purchased at an average price of $78.98 per share, with a total value of $54,892,205.72.

Lennar Stock Performance

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NYSE LEN opened at $81.67 on Thursday. 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 business's 50 day moving average is $83.83 and its two-hundred day moving average is $87.21. Lennar Corporation has a 12-month low of $75.70 and a 12-month high of $133.76. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 3.13 and a beta of 1.39.

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

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Lennar's dividend payout ratio (DPR) is 37.81%.

Hedge Funds Weigh In On Lennar

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

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in shares of Lennar by 19.7% in the first quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company's stock valued at $221,176,000 after acquiring an additional 419,745 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in Lennar by 90.9% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company's stock worth $201,835,000 after purchasing an additional 934,856 shares in the last quarter. Swiss National Bank raised its stake in Lennar by 4.8% in the 1st quarter. Swiss National Bank now owns 601,468 shares of the construction company's stock valued at $52,231,000 after purchasing an additional 27,500 shares during the last quarter. River Road Asset Management LLC lifted its holdings in Lennar by 10.3% in the 4th quarter. River Road Asset Management LLC now owns 461,696 shares of the construction company's stock valued at $47,462,000 after purchasing an additional 43,186 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. boosted its stake in shares of Lennar by 6,292.5% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company's stock worth $29,681,000 after purchasing an additional 322,869 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Lennar from $107.00 to $94.00 and set a "neutral" rating for the company in a report on Tuesday, June 16th. Evercore upped their target price on shares of Lennar from $82.00 to $87.00 and gave the stock an "underperform" rating in a research report on Monday, June 15th. BTIG Research reaffirmed a "sell" rating and issued a $63.00 target price on shares of Lennar in a report on Friday, September 18th. Seaport Research Partners decreased their price target on Lennar from $74.00 to $70.00 and set a "sell" rating on the stock in a research note on Monday, September 21st. Finally, Bank of America lowered their price target on Lennar from $77.00 to $70.00 and set an "underperform" rating on the stock in a report on Monday, September 14th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $81.00.

Check Out Our Latest Stock Analysis on Lennar

Trending Headlines about Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway continued buying: The investment conglomerate purchased 642,821 Lennar shares on September 30 for approximately $52.4 million, after buying smaller blocks on September 28 and 29. The three purchases totaled 660,410 shares and increased Berkshire’s position to more than 26 million shares, or roughly 11% of Lennar. The buying provides a meaningful vote of confidence in the homebuilder’s long-term value. SEC ownership filing
• Neutral Sentiment: Potential value in Clayton Homes: Coverage has highlighted Berkshire’s Clayton Homes unit and suggested it could be worth about $25 billion, underscoring the strategic significance of Berkshire’s housing exposure and its potential interest in Lennar’s assets. Berkshire Buys Lennar Stock; Its Clayton Homes Unit Could Be Worth $25 Billion
• Negative Sentiment: Recent earnings missed expectations: Lennar reported quarterly earnings of $1.23 per share, below the $1.29 consensus estimate, while revenue of $8.05 billion also missed forecasts of $8.32 billion. Revenue declined 8.7% year over year, and earnings fell sharply from $2.29 per share in the comparable period.
• Negative Sentiment: Cost reductions have not fully protected margins: Although Lennar cut build costs, reports indicate that margins lagged, raising concerns about profitability amid a challenging housing environment. Lennar Corporation Cut Build Costs, but Margins Lagged
• Negative Sentiment: Analyst sentiment remains cautious: Wall Street analysts have assigned Lennar a “Reduce” rating, while commentary has questioned whether Berkshire’s investment offsets the company’s earnings miss and operating challenges. Lennar Stock Now Rated Reduce by Wall Street Analysts

Lennar Company Profile

(Get Free Report)

Lennar Corporation (NYSE: LEN) is a homebuilding company that designs, constructs and sells single-family homes and, through its multifamily operations, develops apartment communities. Its residential offerings generally include homes across a range of sizes and prices, serving first-time, move-up and active-adult buyers.

The company also provides related services through businesses involved in mortgage financing, title and closing services, insurance and other real estate activities. Lennar develops residential communities and manages land acquisition, planning and construction as part of its integrated homebuilding model.

Founded in 1954, Lennar has expanded from its origins in South Florida into a national homebuilder serving numerous markets across the United States.

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