Jennison Associates LLC Has $1.31 Million Stock Position in Meritage Homes Corporation $MTH

Jennison Associates LLC boosted its holdings in Meritage Homes Corporation (NYSE:MTH) by 67.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,203 shares of the construction company’s stock after buying an additional 8,509 shares during the period. Jennison Associates LLC’s holdings in Meritage Homes were worth $1,311,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. California Public Employees Retirement System grew its stake in shares of Meritage Homes by 7.1% in the first quarter. California Public Employees Retirement System now owns 119,408 shares of the construction company’s stock worth $7,384,000 after acquiring an additional 7,935 shares during the last quarter. Assetmark Inc. raised its stake in Meritage Homes by 43.9% during the 1st quarter. Assetmark Inc. now owns 774 shares of the construction company’s stock valued at $48,000 after purchasing an additional 236 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Meritage Homes by 110.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,222 shares of the construction company’s stock valued at $3,802,000 after purchasing an additional 32,125 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Meritage Homes by 6.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 41,631 shares of the construction company’s stock valued at $2,574,000 after purchasing an additional 2,422 shares during the period. Finally, Legacy Capital Group California Inc. boosted its holdings in Meritage Homes by 11.8% in the 1st quarter. Legacy Capital Group California Inc. now owns 8,648 shares of the construction company’s stock valued at $535,000 after purchasing an additional 910 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meritage Homes

In other news, CAO Alison Sasser sold 1,273 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total transaction of $79,066.03. Following the completion of the transaction, the chief accounting officer directly owned 7,634 shares of the company’s stock, valued at approximately $474,147.74. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Meritage Homes Stock Performance

Shares of NYSE MTH opened at $72.25 on Thursday. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.26, a PEG 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 business has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $70.36. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36.

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

Meritage Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 16th. Meritage Homes’s dividend payout ratio (DPR) is presently 35.23%.

Analyst Ratings Changes

Several research firms have issued reports on MTH. Citigroup restated a “market outperform” rating on shares of Meritage Homes in a research report on Monday, July 6th. Zacks Research upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Truist Financial set a $80.00 target price on Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, April 16th. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered Meritage Homes from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $80.22.

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.