Hsbc Holdings PLC bought a new position in Meritage Homes Corporation (NYSE:MTH – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 167,683 shares of the construction company’s stock, valued at approximately $14,145,000. Hsbc Holdings PLC owned 0.26% of Meritage Homes as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Meritage Homes by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,901,851 shares of the construction company’s stock worth $190,943,000 after buying an additional 16,338 shares during the period. Balyasny Asset Management L.P. boosted its position in Meritage Homes by 58.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock valued at $95,299,000 after buying an additional 527,265 shares during the period. Goldman Sachs Group Inc. boosted its position in Meritage Homes by 58.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after buying an additional 391,297 shares during the period. Norges Bank purchased a new stake in Meritage Homes in the 4th quarter valued at about $63,053,000. Finally, Bank of New York Mellon Corp grew its stake in Meritage Homes by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 855,679 shares of the construction company’s stock worth $56,304,000 after acquiring an additional 61,342 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MTH has been the subject of several research analyst reports. Zacks Research raised shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. UBS Group reissued a “buy” rating and issued a $88.00 price objective (up from $86.00) on shares of Meritage Homes in a research note on Friday, July 31st. Weiss Ratings upgraded Meritage Homes from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Citigroup reaffirmed a “market outperform” rating on shares of Meritage Homes in a research report on Monday, July 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $93.00 target price (up from $82.00) on shares of Meritage Homes in a report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Meritage Homes presently has an average rating of “Hold” and an average price target of $79.25.
Meritage Homes Trading Down 2.4%
NYSE MTH opened at $70.48 on Friday. Meritage Homes Corporation has a one year low of $58.03 and a one year high of $85.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 5.29 and a beta of 1.36. The company’s 50-day simple moving average is $74.99 and its two-hundred day simple moving average is $70.34.
Meritage Homes (NYSE:MTH – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.12. Meritage Homes had a net margin of 6.11% and a return on equity of 7.13%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The company’s revenue was down 14.1% compared to the same quarter last year. Equities analysts forecast that Meritage Homes Corporation will post 5.04 EPS for the current fiscal year.
Meritage Homes Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 2.7%. Meritage Homes’s dividend payout ratio is currently 40.17%.
About Meritage Homes
Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.
The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.
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