Berkshire Hathaway Buys 2.7M Lennar Class A Shares in New Stake
LEN is trading near its 52-week low of $75.7 (3.2% above the low).
Summary
Berkshire Hathaway disclosed a new position in Lennar, acquiring about 2.7 million Class A shares and 75,021 Class B shares between September 17-21. The purchase is notable given Berkshire's size and Buffett's selective approach to homebuilders. This follows Berkshire's recent Q2 13F showing a major increase in Alphabet and comes days after Buffett stepped down as chairman. The stake could signal confidence in Lennar's valuation or the housing market. Watch for further 13F disclosures or additional purchases.
At the time of this announcement, LEN was trading at $78.14 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $18.8B. The 52-week trading range was $75.70 to $133.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.