Manning & Napier Advisors LLC Acquires New Holdings in Meritage Homes Corporation $MTH

Manning & Napier Advisors LLC purchased a new position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,040 shares of the construction company's stock, valued at approximately $1,690,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Royal Bank of Canada raised its position in shares of Meritage Homes by 134.3% in the first quarter. Royal Bank of Canada now owns 38,658 shares of the construction company's stock valued at $2,740,000 after purchasing an additional 22,162 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Meritage Homes by 51.7% during the 1st quarter. AQR Capital Management LLC now owns 12,937 shares of the construction company's stock worth $917,000 after buying an additional 4,407 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 valued at $75,051,000 after buying an additional 391,297 shares during the last quarter. Empowered Funds LLC grew its stake in Meritage Homes by 111.0% in the 1st quarter. Empowered Funds LLC now owns 32,971 shares of the construction company's stock valued at $2,337,000 after buying an additional 17,343 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Meritage Homes by 102.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,150 shares of the construction company's stock worth $22,621,000 after acquiring an additional 161,806 shares during the period. Institutional investors own 98.44% of the company's stock.

Analyst Ratings Changes

MTH has been the topic of a number of research reports. UBS Group reaffirmed a "buy" rating and set a $88.00 target price (up from $86.00) on shares of Meritage Homes in a research report on Friday, July 31st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $93.00 price objective (up from $82.00) on shares of Meritage Homes in a research report on Friday, July 10th. Citigroup reissued a "market outperform" rating on shares of Meritage Homes in a research report on Monday, July 6th. Zacks Research upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded Meritage Homes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $79.25.

Meritage Homes Stock Up 1.2%

Shares of NYSE MTH opened at $73.42 on Wednesday. Meritage Homes Corporation has a 52-week low of $58.03 and a 52-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. The business has a fifty day moving average of $75.10 and a two-hundred day moving average of $70.40. The stock has a market cap of $4.78 billion, a PE ratio of 15.36, a PEG ratio of 5.31 and a beta of 1.36.

Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.12. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company earned $2.04 EPS. Meritage Homes's revenue for the quarter was down 14.1% on a year-over-year basis. As a group, equities research analysts expect that Meritage Homes Corporation will post 5.04 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. Meritage Homes's dividend payout ratio is presently 40.17%.

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.

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