Lennar (LEN)
Builds U.S. homes through standardized plans, bundled features, and land-light community development.
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Builds and sells attached and detached homes across U.S. markets, with mortgage, title, closing, multifamily, and housing-technology operations alongside the core business. Standardized plans and bundled features support high-volume production, while most homesites are controlled through options and land-bank agreements rather than owned.
Builds and sells attached and detached homes across U.S. markets for first-time, move-up, active-adult, and luxury buyers. Everything’s Included bundles standard features, while Next Gen adds private suites; Core Plans and even-flow production support standardized execution.
Financial Services provides mortgages, title insurance, and closing services around home sales; LMF Commercial originates commercial-property loans. Multifamily manages and invests in rental-development ventures, while LENX directs housing-technology investments. A minority interest in Quarterra remains after TPG acquired a majority stake.
Homebuilding is the economic center. Most homesites are controlled through options, land banks, and joint ventures rather than owned, leaving results dependent on housing demand, mortgage affordability, land access, construction costs, and subcontractor capacity.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | RBC Capital | Reiterate | Rating: —Target: $85 | Target: $69 |
| Sep 18, 2026 | BTIG | Reiterate | Rating: —Target: $67 | Target: $63 |
| Sep 18, 2026 | Barclays | Reiterate | Rating: —Target: $79 | Target: $70 |
| Sep 16, 2026 | Truist Financial | Target | Target: $80 | Target: $75 |
| Sep 11, 2026 | Wells Fargo | Reiterate | Rating: —Target: $85 | Target: $80 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Aug 31, 2026Cash & short-term investments $1.15B · Total debt $4.30B · Total assets $33.38B · Shareholders' equity $21.56B
- Revenue
- $8.05B
- Operating income
- $459.8M
- Net income
- $283.9M
HistoryDividendAnnual yield
| Institutions | ≥ 89.68% | 216.04M shares | |
|---|---|---|---|
| 991 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 9.93% | 23.92M shares | |
| 16 holders · as of Sep 2, 2026 | |||
| Other | ≤ 0.39% | 939.0K shares | |
| remainder | |||
240.90M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Institutional filings for LEN-B (13% of the company) are not on file here, so the institutional figure is a floor.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Stuart A. MillerInsiderdirector, 10 percent owner, officer: Exec. Chairman, CEO, President | 9.60% | 1.50M A · 21.62M B | filed May 13, 2026 |
BlackRock, Inc.Institution | 7.62% | 18.35M A | as of Jun 30, 2026 |
Berkshire Hathaway IncInstitution | 5.44% | 13.11M A | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 5.41% | 13.02M A | as of Jun 30, 2026 |
Greenhaven Associates IncInstitution | 4.70% | 11.32M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 21, 2026 | Berkshire Hathaway Inc | 10 percent owner | +667,118 | $77.74 |
| Sep 18, 2026 | Berkshire Hathaway Inc | 10 percent owner | +1,381,397 | $76.48 |
| Sep 17, 2026 | Berkshire Hathaway Inc | 10 percent owner | +695,014 | $78.98 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lennar | $82.31 | +5.42% | $19.39B | 14.8 | 16.7 | 0.6 | −9.0% |
| D.R. Horton | $143.33 | +2.93% | $38.95B | 13.3 | 12.9 | 1.2 | +0.0% |
| PulteGroup | $121.73 | +2.32% | $22.96B | 12.2 | 11.5 | 1.4 | −9.6% |
| NVR | $6,335.50 | +2.37% | $16.71B | 16.1 | 16.4 | 1.8 | −10.6% |
| Toll Brothers | $137.69 | +1.62% | $12.67B | 10.9 | 10.1 | 1.2 | −9.7% |
| KB Home | $48.62 | +1.59% | $2.93B | 11.6 | 11.4 | 0.5 | −27.3% |
| Meritage Homes | $65.80 | +2.25% | $4.29B | 13.5 | 12.2 | 0.8 | −14.3% |
| M/I Homes | $142.08 | +1.24% | $3.55B | 11.8 | 10.9 | 0.8 | −8.5% |
| Median | 12.2 | 11.5 | 1.2 | −9.7% |