Brandywine Global Investment Management LLC, a prominent investment management firm, has increased its holdings in Meritage Homes Co. (NYSE:MTH) by 13.0% during the first quarter of this year. According to the company’s recent filing with the Securities and Exchange Commission (SEC), it now owns 97,377 shares of the construction company’s stock after acquiring an additional 11,214 shares during the period. This constitutes approximately 0.27% of Meritage Homes’ total worth, which is estimated at $11,370,000.
This boost in holdings comes as an interesting development for both Brandywine Global Investment Management LLC and Meritage Homes. The former’s increase in ownership suggests a growing confidence in the construction company’s performance and potential for future growth.
Furthermore, shareholders of Meritage Homes can look forward to a quarterly dividend payment. The announcement regarding this dividend revealed that it will be paid on Friday, September 29th. Shareholders who are recorded as owners on Friday, September 15th will receive a dividend of $0.27 per share. As for the ex-dividend date when new investors won’t qualify for this particular dividend payment, it is set for Thursday, September 14th.
To put things into perspective, Meritage Homes’ payout ratio – representing the portion of earnings allocated towards dividends – currently stands at 4.75%. This indicates that the company is committed to providing returns to its shareholders through regular dividend payments.
For investors considering Meritage Homes as a potential addition to their portfolios or evaluating its long-term investment prospects, these developments provide valuable insights. With its growing holdings and commitment to paying out dividends regularly, Brandywine Global Investment Management LLC’s confidence in Meritage Homes contributes to a positive outlook for this construction company’s future.
As always, those interested in investing should conduct thorough research and analyze current market conditions before making any decisions regarding their investment portfolios.
Institutional Investors and Market Analysts Show Interest in Meritage Homes’ Recent Activity and Financial Performance
Institutional investors have been making moves with regards to their stakes in Meritage Homes, a prominent construction company. Hollencrest Capital Management and OLD Mission Capital LLC both acquired new positions in the company, each worth $29,000. EverSource Wealth Advisors LLC increased its holdings in Meritage Homes by 36.9% during the first quarter, resulting in ownership of 393 shares valued at $46,000. Quantbot Technologies LP and DekaBank Deutsche Girozentrale also purchased new stakes in the company, worth approximately $48,000 and $114,000 respectively. These institutional investors now own a staggering 99.48% of Meritage Homes’ stock.
Market analysts have been quick to provide their insights on MTH shares as well. UBS Group raised the price objective for Meritage Homes from $155.00 to $188.00 and gave the company a “buy” rating in a research note released on July 31st. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Meritage Homes on June 14th while Wedbush raised their price objective from $137.00 to $141.00 on July 7th. Deutsche Bank Aktiengesellschaft also chimed in with a “buy” rating on May 31st when they assumed coverage on Meritage Homes. StockNews.com, however, lowered their rating from “buy” to “hold” on August 24th. Overall, four equities research analysts have assigned a hold rating to the stock while six have assigned a buy rating.
Meritage Homes opened at $130.18 per share on Thursday and has seen significant fluctuations over the past year, ranging from as low as $65.40 to as high as $152.55 per share. The company currently maintains a debt-to-equity ratio of 0.27 as well as current and quick ratios of 2.18. With a market capitalization of $4.79 billion, Meritage Homes has a price-to-earnings ratio of 5.72 and a beta of 1.65. Its 50-day moving average stands at $140.34, while the 200-day moving average is recorded at $128.24.
On July 27th, Meritage Homes announced its earnings results for the quarter, reporting earnings per share (EPS) of $5.02 – surpassing analysts’ consensus estimates of $3.49 by an impressive $1.53. The company’s revenue for the quarter was also strong, coming in at $1.54 billion compared to the consensus estimate of $1.31 billion. Meritage Homes demonstrated a return on equity of 21.15% and a net margin of 13.10%. While this quarter’s results showed growth with a 9.5% increase in revenue compared to the same period last year, it is noteworthy that the company had previously posted EPS of $6.77 during Q2 of the previous year.
Looking ahead, equities research analysts project that Meritage Homes will post earnings per share figures of approximately $19.45 for the current fiscal year.
Overall, Meritage Homes has caught the attention of institutional investors and market analysts alike due to its recent activity and financial performance over recent quarters. The construction company’s stock has experienced both positive and negative shifts in ratings, highlighting its potential for growth but also cautionary notes from certain analysts who have adopted a more moderate stance towards its prospects.