Lennar (NYSE:LEN) Major Shareholder Acquires 5,200 Shares of Company Stock

Lennar Corporation (NYSE:LEN) major shareholder Berkshire Hathaway Inc bought 5,200 shares of the company’s stock in a transaction on Monday, September 28th. The shares were acquired at an average cost of $81.96 per share, for a total transaction of $426,192.00. Following the completion of the acquisition, the insider directly owned 25,383,334 shares of the company’s stock, valued at $2,080,418,054.64. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Shares of NYSE:LEN traded down $1.34 during trading hours on Wednesday, hitting $81.67. The stock had a trading volume of 5,383,356 shares, compared to its average volume of 4,783,887. The stock’s fifty day simple moving average is $83.83 and its 200 day simple moving average is $87.21. The firm 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. Lennar Corporation has a 1-year low of $75.70 and a 1-year high of $133.76.

Lennar (NYSE:LEN) last issued its quarterly earnings data 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 business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. Lennar had a return on equity of 6.15% and a net margin of 4.09%.The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $2.29 earnings per share. Sell-side analysts anticipate that Lennar Corporation will post 4.85 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

Analyst Upgrades and Downgrades

LEN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a research note on Tuesday, September 8th. Wells Fargo & Company decreased their price target on Lennar from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Argus set a $108.00 price objective on Lennar in a research note on Thursday, July 9th. Evercore raised their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research note on Monday, June 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $85.00 to $75.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $81.00.

Hedge Funds Weigh In On Lennar

Institutional investors have recently bought and sold shares of the stock. New Mexico Educational Retirement Board raised its holdings in Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after buying an additional 100 shares during the period. KCM Investment Advisors LLC lifted its position in shares of Lennar by 1.3% in the 1st quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after acquiring an additional 125 shares in the last quarter. Ritholtz Wealth Management raised its stake in Lennar by 5.4% during the 1st quarter. Ritholtz Wealth Management now owns 2,926 shares of the construction company’s stock valued at $254,000 after purchasing an additional 150 shares during the period. Unison Advisors LLC boosted its position in shares of Lennar by 0.4% in the first quarter. Unison Advisors LLC now owns 37,815 shares of the construction company’s stock worth $3,284,000 after buying an additional 154 shares during the period. Finally, Wedmont Private Capital boosted its position in Lennar by 4.8% during the 2nd quarter. Wedmont Private Capital now owns 3,460 shares of the construction company’s stock worth $292,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

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.