Meritage Homes Co. (NYSE:MTH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Meritage Homes Co. (NYSE:MTH) by 21.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,988 shares of the construction company’s stock after selling 10,118 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Meritage Homes were worth $5,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Meritage Homes by 10.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 95,218 shares of the construction company’s stock valued at $16,707,000 after buying an additional 9,128 shares in the last quarter. US Bancorp DE increased its holdings in Meritage Homes by 140.2% in the 4th quarter. US Bancorp DE now owns 10,482 shares of the construction company’s stock worth $1,826,000 after acquiring an additional 6,119 shares in the last quarter. Occidental Asset Management LLC acquired a new position in Meritage Homes during the first quarter worth $1,908,000. Comerica Bank lifted its holdings in Meritage Homes by 5.9% during the first quarter. Comerica Bank now owns 79,358 shares of the construction company’s stock valued at $13,924,000 after purchasing an additional 4,435 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Meritage Homes by 3.3% in the first quarter. LSV Asset Management now owns 216,400 shares of the construction company’s stock valued at $37,970,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MTH has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group increased their target price on Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Raymond James lifted their price target on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wedbush increased their price objective on Meritage Homes from $148.00 to $160.00 and gave the company an “underperform” rating in a research note on Friday, July 26th. Finally, StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Buying and Selling

In other news, EVP Javier Feliciano sold 3,000 shares of Meritage Homes stock in a transaction on Friday, July 26th. The stock was sold at an average price of $198.36, for a total value of $595,080.00. Following the completion of the sale, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at $2,837,936.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Meritage Homes news, CEO Phillippe Lord sold 10,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the sale, the chief executive officer now directly owns 90,266 shares in the company, valued at approximately $18,084,793.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Javier Feliciano sold 3,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $198.36, for a total transaction of $595,080.00. Following the completion of the transaction, the executive vice president now owns 14,307 shares of the company’s stock, valued at approximately $2,837,936.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $3,111,080. Company insiders own 2.00% of the company’s stock.

Meritage Homes Price Performance

NYSE:MTH opened at $198.07 on Friday. The stock has a 50 day moving average price of $181.56 and a 200 day moving average price of $171.03. The stock has a market cap of $7.19 billion, a PE ratio of 9.24 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 1.93. Meritage Homes Co. has a one year low of $109.23 and a one year high of $210.58.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 24th. The construction company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.17 by $1.14. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.57 billion. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. Meritage Homes’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.02 EPS. Equities research analysts expect that Meritage Homes Co. will post 20.83 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is presently 13.99%.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.