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

Allspring Global Investments Holdings LLC boosted its stake in Meritage Homes Corporation (NYSE:MTH) by 110.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,222 shares of the construction company’s stock after buying an additional 32,125 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Meritage Homes worth $3,802,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Meritage Homes during the fourth quarter worth about $63,053,000. Balyasny Asset Management L.P. lifted its position in shares of Meritage Homes by 58.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock worth $95,299,000 after buying an additional 527,265 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 worth $75,051,000 after buying an additional 391,297 shares during the last quarter. Sophron Capital Management L.P. purchased a new position in shares of Meritage Homes in the 2nd quarter worth approximately $17,613,000. Finally, Millennium Management LLC grew its holdings in shares of Meritage Homes by 49.6% in the fourth quarter. Millennium Management LLC now owns 792,731 shares of the construction company’s stock valued at $52,162,000 after acquiring an additional 262,928 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors.

Insider Activity at Meritage Homes

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

Analysts Set New Price Targets

MTH has been the topic of several research analyst reports. Bank of America cut their price objective on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Truist Financial set a $80.00 target price on Meritage Homes and gave the company a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings upgraded Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.00.

Meritage Homes Stock Up 1.7%

MTH opened at $72.83 on Friday. The firm has a market capitalization 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 Corporation has a one year low of $58.03 and a one year high of $85.38. The company has a fifty day moving average price of $72.85 and a 200-day moving average price of $70.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.96.

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

Meritage Homes Dividend Announcement

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

Meritage Homes Company 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.