Berkshire Hathaway disclosed that it bought about 2.74 million more Lennar shares, pushing its stake in the homebuilder past the 10% ownership threshold. The filing records roughly 2.67 million Class A shares and 75,021 Class B shares purchased across September 17, 18 and 21, at a disclosed weighted-average cost estimated at $212.4 million. That brings Berkshire's holdings to 23.72 million Class A shares and 528,217 Class B shares. The purchase amounts to just 0.03% of Berkshire's market value, too small to move the needle for the conglomerate, but crossing 10% raises its reporting visibility and signals confidence in Lennar after weaker earnings. Berkshire shares stayed flat at $507.01 as of 11.27am ET on Thursday, about 5.79% above the GuruFocus GF Value of $479.25.
Lennar CorporationBerkshire's stake in Lennar crossed 10% after buying ~2.74M more shares, signaling confidence after weaker earnings.
Berkshire Hathaway IncBerkshire bought ~2.74M more Lennar shares, a tiny 0.03% of its market value, and its own shares stayed flat.
