Lennar (NYSE:LEN) Major Shareholder Purchases $135,691,066.80 in Stock

Lennar Corporation (NYSE:LEN) major shareholder Berkshire Hathaway Inc bought 1,708,095 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was bought at an average cost of $79.44 per share, for a total transaction of $135,691,066.80. Following the purchase, the insider directly owned 28,438,045 shares of the company’s stock, valued at approximately $2,259,118,294.80. This trade represents a 6.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

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

• On Thursday, October 1st, Berkshire Hathaway Inc bought 710,542 shares of Lennar stock. The stock was purchased at an average cost of $80.14 per share, with a total value of $56,942,835.88.
• On Wednesday, September 30th, Berkshire Hathaway Inc bought 642,821 shares of Lennar stock. The stock was purchased 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 purchased 12,389 shares of Lennar stock. The stock was purchased 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 stock was purchased at an average price of $81.96 per share, with a total value of $426,192.00.
• On Friday, September 25th, Berkshire Hathaway Inc acquired 492,124 shares of Lennar stock. The shares were acquired 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 acquired 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 bought 534,256 shares of Lennar stock. The stock was acquired 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 acquired at an average price of $77.74 per share, with a total value of $51,861,753.32.
• On Friday, September 18th, Berkshire Hathaway Inc purchased 1,381,397 shares of Lennar stock. The shares were acquired 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 acquired at an average price of $78.98 per share, for a total transaction of $54,892,205.72.

Lennar Trading Down 1.6%

Shares of NYSE:LEN opened at $76.20 on Thursday. Lennar Corporation has a 12 month low of $73.75 and a 12 month high of $133.76. The company has a quick ratio of 0.69, a current ratio of 4.94 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $83.14 and its 200 day simple moving average is $86.60. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.91 and a beta of 1.36.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%.The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period in the previous year, the company posted $2.00 earnings per share. Lennar’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, research analysts forecast that Lennar Corporation will post 4.87 EPS for the current fiscal year.

Lennar Announces Dividend

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 7th. Lennar’s dividend payout ratio (DPR) is currently 37.81%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. Kwmg LLC raised its holdings in shares of Lennar by 7.0% in the 3rd quarter. Kwmg LLC now owns 57,288 shares of the construction company’s stock valued at $4,674,000 after purchasing an additional 3,726 shares during the period. Ridgewood Investments LLC grew its holdings in Lennar by 36.1% during the third quarter. Ridgewood Investments LLC now owns 14,543 shares of the construction company’s stock worth $1,187,000 after purchasing an additional 3,857 shares during the period. Norman Fields Gottscho Capital Management LLC increased its position in Lennar by 126.9% during the third quarter. Norman Fields Gottscho Capital Management LLC now owns 8,183 shares of the construction company’s stock worth $668,000 after buying an additional 4,576 shares during the last quarter. Polaris Financial Partners bought a new stake in Lennar in the third quarter valued at approximately $27,000. Finally, Anchor Investment Management LLC lifted its position in shares of Lennar by 1,276.4% in the second quarter. Anchor Investment Management LLC now owns 757 shares of the construction company’s stock valued at $69,000 after buying an additional 702 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Lennar from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Morgan Stanley began coverage on shares of Lennar in a research note on Thursday, October 1st. They set an “underweight” rating and a $65.00 price objective for the company. Bank of America decreased their price objective on Lennar from $77.00 to $70.00 and set an “underperform” rating for the company in a report on Monday, September 14th. Evercore lifted their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research report on Monday, June 15th. Finally, Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus target price of $79.00.

Key Headlines Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway continued buying Lennar. Berkshire acquired more than 2.4 million Lennar shares in transactions disclosed for October 1 and 2, investing approximately $193 million. Its stake has risen to roughly 12%, signaling confidence in Lennar’s long-term valuation despite near-term housing weakness. Berkshire Buys More Lennar Stock
• Positive Sentiment: Valuation and volume-focused strategy could support the shares. Coverage highlighted that Lennar trades below book value, while the company is emphasizing higher home deliveries, lower costs and faster construction cycles to address affordability challenges. This strategy could protect demand, though it may come at the expense of margins. Lennar Volume Strategy
• Neutral Sentiment: Investor law firms announced investigations. Frank R. Cruz and Bragar Eagel & Squire said they are investigating potential federal securities-law violations following an October 2 Hunterbrook Media report. The announcements are not findings of wrongdoing, but they increase headline and litigation risk for Lennar. Lennar Securities Fraud Investigation
• Negative Sentiment: Mortgage rates are approaching 7.5%. Higher borrowing costs are worsening housing affordability and forcing builders to use incentives or accept lower margins to keep buyers engaged. Mortgage Rates Near 7.5 Percent
• Negative Sentiment: Analyst sentiment remains bearish. Melius Research initiated coverage with a Sell rating and a $72 price target, while the broader analyst consensus is Reduce. Lennar’s latest quarter also missed estimates, with EPS of $1.23 versus $1.29 expected and revenue down 8.7% year over year. Lennar Analyst Coverage

Lennar Company Profile

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.