Lennar (NYSE:LEN) Major Shareholder Acquires 534,256 Shares of Stock

Lennar Corporation (NYSE:LEN) major shareholder Berkshire Hathaway Inc bought 534,256 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $81.65 per share, for a total transaction of $43,622,002.40. Following the completion of the acquisition, the insider directly owned 24,252,102 shares in the company, valued at approximately $1,980,184,128.30. This trade represents a 2.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% 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 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 acquired 653,320 shares of Lennar stock. The stock was acquired at an average price of $80.88 per share, for a total transaction of $52,840,521.60.
• On Monday, September 21st, Berkshire Hathaway Inc purchased 667,118 shares of Lennar stock. The shares were 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 acquired 1,381,397 shares of Lennar stock. The shares were bought 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 bought 695,014 shares of Lennar stock. The stock was bought at an average cost of $78.98 per share, for a total transaction of $54,892,205.72.

Lennar Stock Performance

LEN traded up $0.65 during trading on Friday, hitting $82.12. The stock had a trading volume of 3,890,709 shares, compared to its average volume of 4,436,968. The firm has a market capitalization of $19.78 billion, a P/E ratio of 15.52, a PEG ratio of 3.08 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 twelve month low of $75.70 and a twelve month high of $133.76. The company’s 50-day moving average price is $83.83 and its 200 day moving average price is $87.58.

Lennar (NYSE:LEN) last issued 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). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same period in the previous year, the firm earned $2.29 EPS. The firm’s revenue was down 8.7% on a year-over-year basis. On average, equities research analysts forecast that Lennar Corporation will post 4.85 EPS for the current fiscal year.

Lennar Announces Dividend

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 given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s payout ratio is presently 37.81%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Argus set a $108.00 price objective on Lennar in a research note on Thursday, July 9th. BTIG Research reiterated a “sell” rating and set a $63.00 target price on shares of Lennar in a research report on Friday, September 18th. Royal Bank Of Canada lowered their target price on Lennar from $85.00 to $69.00 and set an “underperform” rating on the stock in a report on Friday, September 18th. Finally, Benchmark raised Lennar to a “hold” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average target price of $81.00.

Institutional Investors Weigh In On Lennar

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

Lennar News Roundup

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway disclosed a purchase worth approximately $212.38 million, increasing its Lennar ownership above 10%. The investment by Warren Buffett’s company is a strong institutional vote of confidence and suggests Berkshire views Lennar’s depressed valuation and housing supply position as attractive. Lennar Shares Jumped After Berkshire Hathaway Increased Its Position
• Positive Sentiment: The company declared a quarterly dividend of $0.50 per share, or $2.00 annualized, representing an approximately 2.5% yield. The payout reinforces Lennar’s shareholder-return profile, although the ex-dividend date is October 7.
• Positive Sentiment: Lennar is expanding its geographic footprint by opening an Iowa division with five communities in the Des Moines area. New communities could support longer-term revenue and order growth if local demand remains healthy. Lennar’s New Iowa Division Opens Five Des Moines-Area Communities
• Neutral Sentiment: Lennar announced Venue at Leaf Creek, a 55-and-over community in Douglassville, Pennsylvania, highlighting continued development activity and product expansion. The announcement is strategically supportive but does not provide material financial guidance. Lennar’s Venue at Leaf Creek Announcement
• Negative Sentiment: Recent earnings missed expectations, revenue declined year over year, and Lennar cut its outlook. The weaker operating backdrop reflects pressure from mortgage rates, affordability challenges and softer housing demand.
• Negative Sentiment: Jim Cramer remained cautious on Lennar and the broader homebuilding sector, emphasizing the adverse impact of interest-rate uncertainty on housing activity. Keefe, Bruyette & Woods also issued a pessimistic forecast for the stock. Jim Cramer’s Lennar Commentary
• Negative Sentiment: Lennar’s lawsuit involving a rejected 265-unit condominium project in Geneva is moving forward, creating legal uncertainty and potentially delaying development plans.

Lennar Company Profile

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country’s major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.