Berkshire Hathaway has nearly doubled its stake in Lennar, the nation’s second largest homebuilder, now holding 25.9 million shares valued at $2.1 billion, representing 10.9% of the company. This stake marks a 93% increase from the 13.4 million shares owned as of June 30. The stock fell 9.2% in the third quarter and 20.1% year-to-date, with Lennar’s quarterly earnings missing Wall Street forecasts and revenue declining 8%. A CFRA Research analyst described it as a classic Berkshire value play, with the group having also acquired Taylor Morrison Home for $6.8 billion in June.
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