Allspring Global Investments Holdings LLC Has $3.73 Million Stake in Meritage Homes Co. (NYSE:MTH)

Allspring Global Investments Holdings LLC lifted its position in shares of Meritage Homes Co. (NYSE:MTHGet Rating) by 1,024.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 53,071 shares of the construction company’s stock after purchasing an additional 48,350 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Meritage Homes were worth $3,729,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Meritage Homes by 31.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 30,560 shares of the construction company’s stock valued at $2,216,000 after acquiring an additional 7,245 shares in the last quarter. Ziegler Capital Management LLC boosted its holdings in shares of Meritage Homes by 2.6% during the 2nd quarter. Ziegler Capital Management LLC now owns 14,005 shares of the construction company’s stock valued at $1,015,000 after acquiring an additional 354 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Meritage Homes by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 47,960 shares of the construction company’s stock valued at $3,477,000 after acquiring an additional 734 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Meritage Homes during the 2nd quarter valued at $1,413,000. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Meritage Homes by 110.8% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 51,158 shares of the construction company’s stock valued at $3,709,000 after acquiring an additional 26,895 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Meritage Homes from $87.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. KeyCorp raised their target price on Meritage Homes from $87.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. StockNews.com raised Meritage Homes from a “hold” rating to a “buy” rating in a research report on Tuesday, January 10th. JPMorgan Chase & Co. lifted their price objective on Meritage Homes from $78.00 to $90.00 in a research report on Tuesday, November 22nd. Finally, TheStreet raised Meritage Homes from a “c+” rating to a “b-” rating in a research report on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $97.00.

Meritage Homes Stock Performance

Shares of MTH opened at $99.86 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50-day moving average of $89.91 and a 200-day moving average of $82.47. The company has a market cap of $3.65 billion, a PE ratio of 3.85 and a beta of 1.52. Meritage Homes Co. has a one year low of $62.51 and a one year high of $114.50.

Meritage Homes (NYSE:MTHGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The construction company reported $7.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.41 by $0.69. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.63 billion. Meritage Homes had a return on equity of 29.08% and a net margin of 16.68%. On average, equities research analysts predict that Meritage Homes Co. will post 26.57 EPS for the current fiscal year.

Meritage Homes Profile

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Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family 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 first-time and first move-up buyers.

Further Reading

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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