Why Lennar Stock is a Hidden Gem in Berkshire Hathaway's Portfolio
Sunday, 7 April 2024, 09:50
Building profits
Buffett (or one of Berkshire's two other investment managers) initiated a small position in Lennar (NYSE: LEN) last year. At the same time, Berkshire also bought shares of two of Lennar's rivals -- D.R. Horton and NVR.
Lennar's key highlights:
- 21% increase in earnings year over year in Q1 2024
- 28% surge in new home orders
- Total revenue up by 13%
- The stock is priced at a dirt-cheap forward earnings multiple of 11.35
- $5 billion cash on hand, enabling generous returns to shareholders
Why buy Lennar stock right now? Lennar's valuation, strong financials, and strategic positioning amidst market conditions make it a compelling investment option for the savvy investor.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.