--- title: "Weekly Recap | Lennar -2.85%, Berkshire buys into sell-off" type: "News" locale: "en" url: "https://longbridge.com/en/news/300849493.md" description: "Lennar (LEN) fell 2.85% this week to close at $79.81, underperforming the S&P 500 (-0.27%) by about 2.58 percentage points. The stock opened Monday (Sep 28) at $81.81, touched a weekly high of $84.25, then reversed over the following sessions. Friday (Oct 2) saw an intraday dip to $77.63 before a late recovery to $79.81, leaving weekly amplitude at 8.09%. The close sits below the 20-day moving average ($80.58) but above the Sep 18 low of $75.7." datetime: "2026-10-03T07:10:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/300849493.md) - [en](https://longbridge.com/en/news/300849493.md) - [zh-HK](https://longbridge.com/zh-HK/news/300849493.md) generator: "portal-rs" --- # Weekly Recap | Lennar -2.85%, Berkshire buys into sell-off ## The Week Lennar (LEN) fell 2.85% this week to close at $79.81, underperforming the S&P 500 (-0.27%) by about 2.58 percentage points. The stock opened Monday (Sep 28) at $81.81, touched a weekly high of $84.25, then reversed over the following sessions. Friday (Oct 2) saw an intraday dip to $77.63 before a late recovery to $79.81, leaving weekly amplitude at 8.09%. The close sits below the 20-day moving average ($80.58) but above the Sep 18 low of $75.7. ## Key Events The week’s story was a push-and-pull between Berkshire Hathaway’s buying and rising mortgage rates. According to a filing, Berkshire acquired roughly 656,000 Class A shares and a small number of Class B shares between Sep 28 and 30, taking its stake to 11% for around $136m; reports after the Oct 1 close indicated Berkshire kept buying. At the same time, mortgage rates crossed 7%, and both KB Home and Lennar warned market conditions had ‘deteriorated’, with Lennar pointing to data-centre labour demand as a cost driver. After Friday’s close, a Hunterbrook short report on Millrose transactions added pressure to the share price. ## Analyst Ratings Among 20 institutions covering the stock, 1 rates it buy, 1 rates it over, 9 rate it hold, 5 rate it under and 4 rate it sell. The consensus rating is sell, with a consensus target of $79, implying about -1.0% versus the spot price of $79.81. Target prices range from $63 to $120, a wide dispersion. On the rating front, Lennar ranks 1st among 19 names in the residential construction sector. ## The Week Ahead US housing sentiment remains closely tied to rate expectations. Next week opens with final S&P Global services PMI and ISM non-manufacturing PMI (Oct 5, prior 55.4, forecast 55), followed by trade balance data on Oct 6. If those prints suggest sticky inflation or resilient growth, mortgage-rate expectations could shift and amplify homebuilder swings. The short-seller discussion around Millrose may also carry into early next week. ## In Short The picture for Lennar this week is one of tension between long-term buying and cautious sell-side views. Berkshire’s continued accumulation suggests a large-holder conviction in the stock’s value, while the consensus sell rating and below-spot target reflect a more guarded stance from brokers. Valuation sits at 14.92x P/E and 0.89x P/B, a relatively moderate zone. The next things to watch are whether mortgage rates pull back from above 7% and whether the short-report debate extends into fresh trading data. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [LEN.US](https://longbridge.com/en/quote/LEN.US.md) ## Related News & Research - [Berkshire Hathaway Keeps Buying More Lennar Stock, Shares Rise](https://longbridge.com/en/news/300644734.md) - [Housing Costs Keep Rising: Lennar Points to Data Center Labor Demand While KB Home Flags Fuel, Tariff and Inflation Pressures](https://longbridge.com/en/news/300666329.md) - [Berkshire Buys Additional $136M of Lennar Stock, Raising Stake to 11%](https://longbridge.com/en/news/300288269.md) - [U.S. RESEARCH ROUNDUP- Amrize, Dexcom, Lennar](https://longbridge.com/en/news/300660107.md) - [Berkshire buys more Lennar shares, but pace of purchases slows](https://longbridge.com/en/news/300860970.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**