Berkshire Buys $212 Million of Lennar Shares After Weak Quarter

TheStreet·23 Sep 2026·

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Corporate Action Earnings Analyst Financial Services

Summary · why it matters

Berkshire Hathaway bought roughly $212.4 million worth of Lennar shares across three trading days in September, pushing its total position in the homebuilder to about $1.4 billion. The purchases took place between Sept. 17 and Sept. 21, with Berkshire picking up 2.74 million shares across both Class A and Class B stock, and LEN shares rose 2.1% on Monday and gained another 1.2% in overnight trading after the news broke. The buying followed Lennar's Sept. 16 third-quarter report, in which net earnings dropped to $284 million from $591 million a year earlier, revenue fell 8.6% to $8.05 billion, and adjusted earnings per share of $1.23 missed the $1.28 consensus, while new home orders declined 9% to 20,879 and gross margin fell to 15.8% from 17.5%. Management cut its full-year 2026 delivery outlook to 80,000 to 81,000 homes from 82,000 to 83,000 previously, prompting Barclays to cut its price target to $70 from $79 and Royal Bank of Canada to move its target to $69. The Lennar stake is part of a broader housing push under new CEO Greg Abel, following Berkshire's May agreement to acquire Taylor Morrison for $72.50 per share in cash, a deal that closed in July at about $6.8 billion in equity value and $8.5 billion in enterprise value, and adding to its existing positions in D.R. Horton and Clayton Homes.

Berkshire Hathaway Inc ▲

Lennar Corporation ▲

Barclays PLC ▼

Royal Bank of Canada ▼

Taylor Morn Home ±