Berkshire Hathaway purchased approximately $212.4 million of Lennar Corp. stock between September 17 and September 21. The conglomerate acquired roughly 2.7 million shares according to SEC filings. This acquisition raises Berkshire's total ownership in the nation's second-largest homebuilder to just over 10%.
The investment follows Lennar’s disappointing fiscal third-quarter results. The homebuilder missed earnings estimates and lowered its full-year delivery forecast. High mortgage rates and housing affordability pressures have recently driven the stock price lower.
This move expands Berkshire Hathaway's significant footprint in the U.S. housing sector. The firm also maintains a stake in homebuilder D.R. Horton. Berkshire acquired homebuilder Taylor Morrison earlier this year.