Lennar rises as Berkshire Hathaway builds stake toward 10%
+6.38% to $83.06 from $78.08
What moved LEN
- Berkshire Hathaway disclosed purchases of more than 2.7 million additional Lennar Class A and Class B shares between September 17 and 21, at weighted-average prices ranging from $74.80 to $79.41.
- The purchases lifted Berkshire’s position to roughly 23.7 million shares, worth about $1.8 billion and equal to just over a 10% stake, making it Lennar’s largest disclosed investor.
- Berkshire reported the transactions through its insurance subsidiaries, and the buying came after Lennar’s weak third-quarter earnings and reduced full-year delivery guidance.
Sources: TipRanks · CNBC · Yahoo Finance