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Lennar (NYSE:LEN) Major Shareholder Purchases $51,861,753.32 in Stock
Berkshire bought nearly 2.7 million Class A shares over three trading days, lifting its Lennar stake to 23.7 million shares worth $1.8 billion.
- Berkshire Hathaway accumulated a 10% stake in Lennar, purchasing nearly 11 million shares since the second quarter ended. The conglomerate's total position reached 23.7 million shares worth $1.8 billion.
- The Miami-based homebuilder has plunged more than 32% in the past year as rising interest rates exacerbated housing affordability challenges. CEO Greg Abel and manager Ted Weschler viewed the distressed stock as a "classic" value play.
- Lennar reported weak third-quarter results last week, with revenue slumping 8% and earnings per share totaling $1.23. Management cited affordability constraints from 7% mortgage rates reducing qualified buyer pools.
- Following Berkshire's philosophy to be greedy when others are fearful, Abel and Weschler are positioning the conglomerate to capitalize on a U.S. housing shortage estimated between 2 million and 5.5 million units.
- Berkshire plans to merge Lennar's operations with its Clayton Homes subsidiary to leverage scale in the difficult housing market. Analysts view the investment as a significant turnaround opportunity given the stock trades near tangible book value.
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If Berkshire's $2.1 Billion Bet Is Right, You'll Probably Wish You Bought This Unloved Housing Stock. Abel and Weschler Just Bought Another 2.7 Million Shares Of Lennar.
Berkshire Hathaway (NYSE:BRK-B) moved fast into a homebuilder Wall Street has turned against. Per TipRanks, Berkshire bought $212.4 million of Lennar (NYSE:LEN) stock, over 2.7 million shares, between September 17 and September 21, 2026, at weighted-average prices from $74.80 to $79.41. GuruFocus reported a follow-on purchase of $136.4 million, bringing recent buying to over $348 […]
·Lakewood, United States
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Coverage Details
Total News Sources13
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
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