Hsbc Holdings PLC Makes New Investment in Meritage Homes Corporation $MTH

Hsbc Holdings PLC bought a new position in shares of Meritage Homes Corporation (NYSE:MTH) during the 2nd quarter, HoldingsChannel reports. The firm bought 167,683 shares of the construction company’s stock, valued at approximately $14,145,000.

Several other hedge funds also recently added to or reduced their stakes in MTH. Ceredex Value Advisors LLC acquired a new position in shares of Meritage Homes during the second quarter valued at about $12,540,000. Abacus Wealth Partners LLC acquired a new stake in Meritage Homes in the 4th quarter worth approximately $1,880,000. Weiss Asset Management LP purchased a new stake in Meritage Homes during the 1st quarter worth approximately $916,000. Mizuho Markets Americas LLC purchased a new stake in Meritage Homes during the 4th quarter worth approximately $9,003,000. Finally, iA Global Asset Management Inc. acquired a new position in Meritage Homes during the 1st quarter valued at approximately $6,650,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Price Performance

Shares of MTH opened at $70.48 on Friday. The business’s 50-day moving average is $74.99 and its two-hundred day moving average is $70.34. The company has a market capitalization of $4.59 billion, a P/E ratio of 14.74, a P/E/G ratio of 5.29 and a beta of 1.36. Meritage Homes Corporation has a fifty-two week low of $58.03 and a fifty-two week 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.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.12. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The company’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 EPS. Research analysts predict that Meritage Homes Corporation will post 5.04 earnings per share for the current year.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Meritage Homes’s dividend payout ratio is currently 40.17%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Meritage Homes from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group reiterated a “buy” rating and set a $88.00 price target (up from $86.00) on shares of Meritage Homes in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $93.00 price objective (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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.25.

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.