Allspring Global Investments Holdings LLC Acquires 32,125 Shares of Meritage Homes Corporation $MTH

Allspring Global Investments Holdings LLC grew its holdings in shares of Meritage Homes Corporation (NYSE:MTH) by 110.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,222 shares of the construction company’s stock after acquiring an additional 32,125 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Meritage Homes were worth $3,802,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC grew its holdings in shares of Meritage Homes by 63.9% during the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock valued at $25,000 after purchasing an additional 145 shares during the last quarter. Larson Financial Group LLC lifted its stake in Meritage Homes by 265.5% in the third quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock worth $29,000 after purchasing an additional 292 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in Meritage Homes in the fourth quarter worth $39,000. EverSource Wealth Advisors LLC boosted its position in Meritage Homes by 194.9% during the second quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock valued at $47,000 after buying an additional 462 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Meritage Homes during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 1,273 shares of Meritage Homes stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total value of $79,066.03. Following the completion of the transaction, the chief accounting officer directly owned 7,634 shares of the company’s stock, valued at approximately $474,147.74. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Bank of America dropped their target price on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Truist Financial set a $80.00 price target on Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $93.00 price objective (up from $82.00) on shares of Meritage Homes in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.00.

Meritage Homes Trading Up 1.7%

Shares of NYSE MTH opened at $72.83 on Friday. Meritage Homes Corporation has a 1 year low of $58.03 and a 1 year high of $85.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a 50-day moving average of $72.85 and a 200 day moving average of $70.42. The stock has a market cap of $4.86 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.35.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.12). Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s quarterly revenue was down 17.5% on a year-over-year basis. As a group, sell-side analysts expect that Meritage Homes Corporation will post 5 EPS for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 16th. Meritage Homes’s dividend payout ratio (DPR) is currently 35.23%.

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.