Lennar (LEN) Stock Rises After Berkshire Buys $54 Million More

TLDR

• Berkshire Hathaway bought another $53.8 million of Lennar stock between September 28 and September 30, 2026.
• The purchases included over 656,000 Class A shares and more than 4,000 Class B shares.
• Berkshire now holds roughly 26 million Class A and 553,000 Class B shares, worth close to $2 billion.
• Lennar stock is down about 19% year to date and sits near its 52-week low.
• Analysts hold a Moderate Sell rating on the stock, with one Buy, seven Holds, and five Sells.

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Lennar stock trades near $81.59 after Berkshire Hathaway disclosed another round of buying this week. The homebuilder’s stock is down about 19% so far this year and has fallen 35% over the past twelve months.

Lennar Corporation, LEN

Warren Buffett’s company bought $53.8 million worth of Lennar stock between September 28 and September 30. The purchases came through Berkshire’s insurance subsidiaries, including National Indemnity and Medical Protective.

A Form 4 filing with the SEC shows Berkshire bought 656,302 Class A shares at weighted average prices between $81.59 and $81.96. It also picked up 4,108 Class B shares during the same stretch.

Lennar stock actually rose 1.1% in extended trading after the filing came out. That’s a small bounce for a stock that has mostly moved in one direction this year.

Why Berkshire Keeps Buying

This isn’t a one-time move. Berkshire bought roughly $349 million of Lennar stock in September alone.

That followed a $136 million purchase that pushed Berkshire’s stake to around 11%. Before that, the firm spent $212.4 million on the stock between September 17 and September 21.

Berkshire now beneficially owns 26,034,436 Class A shares and 553,000 Class B shares. That combined position is worth close to $2 billion.

Buffett already has skin in the housing game through Clayton Homes. Berkshire also picked up Taylor Morrison earlier this year, adding another builder to the portfolio.

Lennar’s own numbers explain some of the pressure on the stock. The company’s fiscal third quarter adjusted earnings came in at $1.23 per share, missing the $1.29 Wall Street expected.

Revenue landed at $8.05 billion, also short of the $8.31 billion forecast. New orders dropped 9% year over year to 20,879 homes.

Deliveries slipped too, falling 3% to 20,840 homes. Lennar pointed to a 30-year mortgage rate near 6.8% at quarter’s end as a drag on buyer demand.

What Analysts Think Now

Wall Street isn’t rushing in. TipRanks shows a Moderate Sell consensus on Lennar stock, built from one Buy, seven Holds, and five Sell ratings.

The average price target sits at $80.09. That’s actually below where the stock trades now, implying 1.8% downside from current levels.

Raymond James has an Underperform rating on the name, pointing to how sensitive Lennar’s earnings are to mortgage rates and consumer confidence. Truist holds a Hold rating with an $75 price target.

Citizens also rates the stock Market Perform, though it flagged an improvement in Lennar’s incentive rate as a small positive. Management has said it will keep production volumes up even if that means thinner margins in the near term.

Lennar’s dividend history remains intact through all of this. The company has paid a dividend for 49 straight years, currently yielding 2.41%.

The stock’s 52-week low sits at $75.70, not far from where it trades today. Berkshire’s buying has coincided with that stretch near the bottom of the range.