Berkshire Hathaway bought about 2.7 million Lennar Class A shares over three trading days through Monday, CNBC reports. The holding is 23.7 million shares, worth 1.8 billion dollars, plus 528,000 Lennar Class B shares. Investor's Business Daily says the stake is now more than 10 percent of the homebuilder and that other homebuilding stocks rose. Lennar shares rose as much as 6.6 percent on Tuesday, to 83.24 dollars. The stock fell more than 32 percent over the past year.
Berkshire Hathaway bought about 2.7 million Lennar Class A shares over three trading days through Monday, CNBC reports. Investor's Business Daily says the firm raised its stake and now owns more than 10 percent of the homebuilder. The two descriptions meet on that tenth: CNBC's share count is the filing, and IBD's line is the resulting slice of the company.[1], [2]
CNBC puts the Class A holding at 23.7 million shares and 1.8 billion dollars. Berkshire also holds 528,000 Lennar Class B shares. Those figures are the securities-filing account CNBC is reporting, not a separate IBD tally.[1]
Lennar shares rose as much as 6.6 percent on Tuesday, to 83.24 dollars, CNBC reports. The stock is still down more than 32 percent over the past year. Investor's Business Daily adds that other homebuilding stocks rose on the news. The buying landed in a sector that had already been falling. The Class B holding sits inside the same filing.[1], [2]
