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3 clusters · 9 sources · 3 days · First seen · Last updated

Berkshire Hathaway increases stake in Lennar Corporation

Overview

Berkshire Hathaway has continued to expand its position in Lennar Corporation through a series of September stock purchases. Recent transactions included the acquisition of 492,124 shares at an average price of $81.12, bringing the conglomerate’s total direct ownership to over 25 million shares valued at approximately $2.06 billion.

This increased investment coincides with a period of financial volatility for the homebuilder. Lennar reported third-quarter earnings that missed consensus estimates, posting an adjusted EPS of $1.23 against an expected $1.29. The company also saw an 8.7% year-over-year revenue decline to $8.05 billion, with net profit falling to $284 million from $591 million in the previous year. While delivery volumes remained steady, new orders decreased by 9%.

Despite these challenges, Lennar declared a quarterly dividend of $0.50 per share, payable on October 22nd. For the fourth quarter, the company has projected home deliveries between 22,000 and 23,000 units.

The capital deployment remains part of a broader strategic shift under Greg Abel, who is managing Berkshire Hathaway’s $700 billion in investable assets following Warren Buffett’s retirement. Abel’s leadership has seen the firm pursue diverse interests in AI, infrastructure, and housing vertical integration, utilizing substantial cash reserves and insurance float to secure strategic opportunities.

Entities

SEC · Lennar Corporation · Berkshire Hathaway · Alphabet · Nykredit A/S

Timeline

  1. 2 days ago

    [BUSINESS] 4 sources
    Berkshire Hathaway increases stake in Lennar Corporation

    Berkshire Hathaway has increased its ownership in Lennar Corporation to over 25 million shares following a series of September purchases, despite Lennar reporting a quarterly earnings miss.

  2. 2 days ago

    [BUSINESS] 5 sources
    Berkshire Hathaway executes major capital moves amid leadership transition

    Berkshire Hathaway is transitioning leadership to Greg Abel, who is managing $700 billion in assets and executing major moves, including a $212 million investment in homebuilder Lennar.

  3. 5 days ago

    [BUSINESS] 2 sources
    Berkshire Hathaway builds nearly 10% stake in Lennar Corporation

    Berkshire Hathaway has built a nearly 10% stake in Lennar Corporation, a move analysts call a “classic” value play amid rising mortgage rates and recent stock volatility.

Sources

ad-hoc-news.de · formosadeportiva.com.ar · lesaffaires.com · powergame.gr · seekingalpha.com · spacemoney.com.br · stocknews.com · theascent.com · tradingview.com

This summary has been updated 1 time: see revision history