Lennar (NYSE:LEN) Major Shareholder Berkshire Hathaway Inc Acquires 710,542 Shares of Company Stock

Lennar Corporation (NYSE:LEN - Get Free Report) major shareholder Berkshire Hathaway Inc acquired 710,542 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was acquired at an average price of $80.14 per share, for a total transaction of $56,942,835.88. Following the completion of the transaction, the insider directly owned 26,740,126 shares in the company, valued at approximately $2,142,953,697.64. This represents a 2.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

• Insider Trades: Dell Sees Over $1 Billion in Sales, Berkshire Buys a Top Homebuilder

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

• On Friday, October 2nd, Berkshire Hathaway Inc bought 1,708,095 shares of Lennar stock. The shares were acquired at an average price of $79.44 per share, with a total value of $135,691,066.80.
• On Wednesday, September 30th, Berkshire Hathaway Inc purchased 642,821 shares of Lennar stock. The stock was acquired at an average price of $81.58 per share, for a total transaction of $52,441,337.18.
• On Tuesday, September 29th, Berkshire Hathaway Inc acquired 12,389 shares of Lennar stock. The shares were acquired at an average cost of $81.93 per share, with a total value of $1,015,030.77.
• On Monday, September 28th, Berkshire Hathaway Inc acquired 5,200 shares of Lennar stock. The shares were bought at an average price of $81.96 per share, with a total value of $426,192.00.
• On Friday, September 25th, Berkshire Hathaway Inc bought 492,124 shares of Lennar stock. The stock was bought 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 bought 653,320 shares of Lennar stock. The shares were bought at an average price of $80.88 per share, for a total transaction of $52,840,521.60.
• On Wednesday, September 23rd, Berkshire Hathaway Inc purchased 534,256 shares of Lennar stock. The shares were bought at an average cost 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 bought at an average cost of $77.74 per share, with a total value of $51,861,753.32.
• On Friday, September 18th, Berkshire Hathaway Inc acquired 1,381,397 shares of Lennar stock. The stock was bought at an average price 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 bought at an average cost of $78.98 per share, for a total transaction of $54,892,205.72.

Lennar Trading Down 6.9%

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Shares of LEN stock opened at $74.31 on Tuesday. The firm has a 50-day moving average price of $83.52 and a 200 day moving average price of $86.85. Lennar Corporation has a twelve month low of $73.75 and a twelve month high of $133.76. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 3.00 and a beta of 1.36. The company has a current ratio of 4.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20.

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

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.06). The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.32 billion. Lennar had a return on equity of 6.15% and a net margin of 4.09%.Lennar's revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.00 earnings per share. Research analysts forecast that Lennar Corporation will post 4.87 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.7%. Lennar's dividend payout ratio (DPR) is 37.81%.

Institutional Investors Weigh In On Lennar

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

Institutional investors have recently bought and sold shares of the business. 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 acquiring an additional 38,822 shares during the period. Element Capital Management LLC purchased a new stake in Lennar during the 4th quarter worth $6,437,000. Nan Shan Life Insurance Co. Ltd. increased its holdings in Lennar by 6,292.5% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company's stock valued at $29,681,000 after purchasing an additional 322,869 shares in the last quarter. Myriad Asset Management Advisors LLC purchased a new position in Lennar in the fourth quarter valued at about $1,511,000. Finally, Cutler Investment Counsel LLC lifted its stake in shares of Lennar by 59.3% during the fourth quarter. Cutler Investment Counsel LLC now owns 42,464 shares of the construction company's stock worth $4,365,000 after purchasing an additional 15,802 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway increased its Lennar position. Berkshire purchased 710,542 shares on October 1 and another 1,708,095 shares on October 2, investing roughly $193 million across the two disclosed transactions. Its holdings rose to 28.44 million shares, reinforcing Warren Buffett’s confidence in the homebuilder and providing potential support for the stock. Berkshire Buys More Lennar Stock
• Positive Sentiment: Long-term housing investment thesis remains intact. Reports highlighted that Berkshire is building a significant housing-related portfolio despite industry weakness, suggesting it views Lennar’s valuation and long-term housing demand favorably. Berkshire Hathaway Housing Investment
• Neutral Sentiment: Investor-law firms announced investigations. Block & Leviton is examining potential securities-law violations involving Lennar, while Julie & Holleman is investigating alleged misconduct related to transactions between Lennar and Millrose Properties. These announcements are not findings of wrongdoing but may add uncertainty and headline risk. Lennar Investor Investigation
• Negative Sentiment: Fundamental and housing-market pressures remain significant. High mortgage rates, weaker affordability, declining home prices and sharp gross-margin compression are weighing on Lennar’s outlook. The company’s latest quarterly results also missed analyst expectations, with earnings per share of $1.23 versus a $1.29 consensus and revenue down 8.7% year over year. Lennar Housing-Market Pressures
• Negative Sentiment: Recent negative coverage intensified selling pressure. Lennar’s shares fell sharply after publication of a report questioning the company, adding to concerns about earnings performance and the broader housing downturn. Negative Lennar Report

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LEN shares. JPMorgan Chase & Co. reduced their price target on Lennar from $80.00 to $77.00 and set an "underweight" rating on the stock in a research note on Tuesday, June 16th. Barclays lowered their price objective on Lennar from $79.00 to $70.00 and set an "underweight" rating for the company in a research report on Friday, September 18th. Citigroup reduced their target price on Lennar from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, September 21st. Keefe, Bruyette & Woods decreased their price target on Lennar from $85.00 to $75.00 and set an "underperform" rating on the stock in a research note on Tuesday, September 22nd. Finally, UBS Group lowered their target price 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. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $79.86.

Get Our Latest Research Report on Lennar

About Lennar

(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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