Hsbc Holdings PLC Buys 89,779 Shares of Meritage Homes Corporation $MTH

Hsbc Holdings PLC grew its stake in shares of Meritage Homes Corporation (NYSE:MTH) by 3,031.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,741 shares of the construction company’s stock after purchasing an additional 89,779 shares during the period. Hsbc Holdings PLC owned approximately 0.14% of Meritage Homes worth $6,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MTH. Abacus Wealth Partners LLC bought a new position in Meritage Homes in the fourth quarter worth approximately $1,880,000. Bayhunt Capital LLC bought a new stake in shares of Meritage Homes during the fourth quarter valued at approximately $7,922,000. Capital World Investors raised its position in shares of Meritage Homes by 44.3% during the third quarter. Capital World Investors now owns 1,987,850 shares of the construction company’s stock worth $143,980,000 after purchasing an additional 609,866 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in shares of Meritage Homes during the third quarter worth approximately $10,531,000. Finally, Peak Financial Advisors LLC lifted its holdings in shares of Meritage Homes by 234.7% in the 4th quarter. Peak Financial Advisors LLC now owns 33,090 shares of the construction company’s stock worth $2,177,000 after purchasing an additional 23,204 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meritage Homes

In related news, CAO Alison Sasser sold 1,273 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total transaction of $79,066.03. Following the transaction, the chief accounting officer directly owned 7,634 shares of the company’s stock, valued at $474,147.74. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.

Meritage Homes Stock Down 4.4%

Shares of NYSE:MTH opened at $74.83 on Thursday. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 3.48 and a beta of 1.35. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. Meritage Homes Corporation has a 12-month low of $58.03 and a 12-month high of $85.38. The business’s 50 day moving average is $70.59 and its 200 day moving average is $69.81.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, sell-side analysts forecast that Meritage Homes Corporation will post 4.97 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.48 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.92 annualized dividend and a dividend yield of 2.6%. Meritage Homes’s dividend payout ratio is currently 35.23%.

Wall Street Analysts Forecast Growth

MTH has been the subject of several research reports. Truist Financial set a $80.00 price target on shares of Meritage Homes and gave the company a “buy” rating in a research report on Thursday, April 16th. UBS Group set a $86.00 price objective on shares of Meritage Homes and gave the stock a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. Zelman & Associates cut shares of Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, Citigroup reissued a “market outperform” rating on shares of Meritage Homes in a research report on Monday. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.89.

Meritage Homes Profile

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.