Wednesday’s insider activity: Berkshire adds to Lennar stake
On Wednesday, Berkshire Hathaway Inc., which owns a stake in homebuilder Lennar Corp., added to its position in the company. The investment firm purchased approximately $53.8 million worth of Lennar's common stock across three trading days. The purchases occurred at prices ranging from $79.98 to $81.96 per share, as Lennar shares had declined 35% over the past year and were trading near their 52-week low.
Berkshire Hathaway's strategy appears to be taking advantage of the stock's undervaluation, with the company currently priced at a P/E ratio of 15.48.
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