Insider Buying: Lennar (NYSE:LEN) Major Shareholder Acquires 710,542 Shares of Company Stock

Lennar Corporation (NYSE:LEN) major shareholder Berkshire Hathaway Inc bought 710,542 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was bought at an average cost 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. The trade was a 2.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, October 2nd, Berkshire Hathaway Inc purchased 1,708,095 shares of Lennar stock. The stock was 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 bought 642,821 shares of Lennar stock. The stock was bought 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 acquired 12,389 shares of Lennar stock. The stock was purchased at an average price of $81.93 per share, with a total value of $1,015,030.77.
• On Monday, September 28th, Berkshire Hathaway Inc bought 5,200 shares of Lennar stock. The shares were bought at an average price of $81.96 per share, for a total transaction of $426,192.00.
• 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, with a total value 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, with a total value 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 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 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 acquired 1,381,397 shares of Lennar stock. The shares were 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 purchased 695,014 shares of Lennar stock. The shares were purchased at an average cost of $78.98 per share, with a total value of $54,892,205.72.

Lennar Trading Down 6.9%

Shares of Lennar stock traded down $5.50 during trading hours on Monday, hitting $74.31. The company’s stock had a trading volume of 10,653,331 shares, compared to its average volume of 5,612,962. The business has a fifty day moving average of $83.52 and a 200 day moving average of $86.85. 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 1-year low of $73.75 and a 1-year high of $133.76. The company has a market capitalization of $17.90 billion, a PE ratio of 14.05, a P/E/G ratio of 3.00 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 the consensus estimate of $1.29 by ($0.06). The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $8.32 billion. Lennar had a net margin of 4.09% and a return on equity of 6.15%. Lennar’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 earnings per share. As a group, equities analysts forecast that Lennar Corporation will post 4.87 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, October 7th. Lennar’s dividend payout ratio (DPR) is 37.81%.

Hedge Funds Weigh In On Lennar

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Lennar by 19.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock worth $221,176,000 after acquiring an additional 419,745 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its holdings in Lennar by 90.9% during the fourth 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 lifted its position in Lennar by 4.8% in the first quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock worth $52,231,000 after purchasing an additional 27,500 shares during the period. River Road Asset Management LLC boosted its stake in Lennar by 10.3% during 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. increased its position 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 valued at $29,681,000 after purchasing an additional 322,869 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

More Lennar News

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

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. BTIG Research restated a “sell” rating and set a $63.00 price objective on shares of Lennar in a research note on Friday, September 18th. Barclays lowered their price objective on shares of Lennar from $79.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Truist Financial lowered their target price on Lennar from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, September 16th. Evercore increased their target price on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research report on Monday, June 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Lennar from $85.00 to $75.00 and set an “underperform” rating for the company in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $79.86.

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.