Lennar (NYSE:LEN) Major Shareholder Buys $52,840,521.60 in Stock

Lennar Corporation (NYSE:LEN) major shareholder Berkshire Hathaway Inc acquired 653,320 shares of the stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $80.88 per share, with a total value of $52,840,521.60. Following the completion of the transaction, the insider owned 24,893,032 shares in the company, valued at approximately $2,013,348,428.16. This represents a 2.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major 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 Friday, September 25th, Berkshire Hathaway Inc bought 492,124 shares of Lennar stock. The shares were acquired at an average price of $81.12 per share, for a total transaction of $39,921,098.88.
• On Wednesday, September 23rd, Berkshire Hathaway Inc bought 534,256 shares of Lennar stock. The stock was acquired 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 purchased 667,118 shares of Lennar stock. The stock was acquired 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 acquired 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 stock was bought at an average price of $78.98 per share, with a total value of $54,892,205.72.

Lennar Stock Up 0.8%

Shares of Lennar stock traded up $0.65 during trading on Friday, reaching $82.12. 3,890,709 shares of the company traded hands, compared to its average volume of 4,436,968. The firm has a market capitalization of $19.78 billion, a PE ratio of 15.52, a P/E/G ratio of 3.08 and a beta of 1.39. Lennar Corporation has a 1-year low of $75.70 and a 1-year high of $133.76. The company has a 50 day moving average price of $83.83 and a 200-day moving average price of $87.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.94 and a quick ratio of 0.69.

Lennar (NYSE:LEN) last posted its quarterly 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 company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the firm posted $2.29 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts expect that Lennar Corporation will post 4.85 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders 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 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%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LEN. Wells Fargo & Company dropped their target price on Lennar from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Citigroup lowered their target price on shares of Lennar from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. Barclays reduced 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. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Finally, UBS Group dropped their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. One research 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’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $81.00.

Institutional Investors Weigh In On Lennar

Several large investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC increased its stake in shares of Lennar by 1,276.4% in the 2nd quarter. Anchor Investment Management LLC now owns 757 shares of the construction company’s stock worth $69,000 after acquiring an additional 702 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Lennar by 5.3% in the second quarter. Sequoia Financial Advisors LLC now owns 14,609 shares of the construction company’s stock worth $1,322,000 after purchasing an additional 735 shares during the period. Van Hulzen Asset Management LLC bought a new position in shares of Lennar during the second quarter valued at approximately $317,000. Cidel Asset Management Inc. lifted its holdings in shares of Lennar by 15.6% during the second quarter. Cidel Asset Management Inc. now owns 4,873 shares of the construction company’s stock valued at $441,000 after purchasing an additional 657 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Lennar in the 2nd quarter worth approximately $232,000. Institutional investors own 81.10% of the company’s stock.

Key Stories Impacting Lennar

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.