Meritage Homes Corporation

Meritage Homes Corporation

Meritage Homes Corporation

Overview
Date Founded

1985

Headquarters

8800 East Raintree Drive, Suite 300, Scottsdale, AZ, 85260, USA

Type of Company

Public

Employees (Worldwide)

1,605

Industries

Engineering, Construction & Architecture
Real Estate

Company Description

Meritage Homes Corp. is a holding company, which engages in the development and sale of residential properties. It operates through two segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company's subsidiary, Carefree Title. Meritage Homes was founded by Steven J. Hilton and William W. Cleverly in 1985 and is headquartered in Scottsdale, AZ.

Contact Data
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Executives & Employees

Chief Executive Officer

Chief Financial Officer & Executive Vice President

Executive Vice President, Chief Financial Officer & Chief Accounting Officer

Executive Vice President & Chief Operating Officer

Executive Vice President, General Counsel & Secretary

Executive Vice President & Chief Human Resources Officer

Vice President-Investor & Media Relations

Director, Operations

Vice President, Construction

SCI Manager

Board of Directors

Chief Executive Officer at Meritage Homes Corporation

Senior Advisor at SSA & Company

President & Chief Executive Officer at XL Parts Partnership Ltd.

Managing Partner at Phoenix Suns

Co-Founder at Oppel Jenkins Group

Founder at Haddock Enterprises LLC

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Owners & Shareholders
Details Hidden

EARNEST Partners is an institutional investment firm with a global network that we believe enables us to see and to seize opportunities that other investors overlook or cannot access. The firm manages approximately $20 billion in assets for clients around the world, including corporate pension plans, state and municipal pension plans, jointly-trusteed plans, foundations, endowments and sovereign wealth funds. We also manage portfolios for high net worth individuals through the platforms of some of the largest broker dealers in the world. In addition to our separate account business, EARNEST Partners is the sole subadvisor for the Hancock Horizon Diversified International Fund, the Touchstone Total Return Bond Fund and the Harbor Small Cap Value Fund. The Firm manages Approximately $20 Billion in assets for clients around the world. Local Touch We are fundamental, bottom-up investors; our investment decisions focus on the merits of individual securities. We believe the best investment decisions are thoughtfully distilled from a pool of expertise, and we are pleased to offer our clients a team with the experience and the network to assess the relevant geopolitical issues, demographic trends and cultural considerations impacting our investments. As a component of our due diligence process, investment team members regularly perform company visits across the Americas, the Asia Pacific region, Western and Eastern Europe, the Middle East and the Sub-continent. Collectively, EARNEST Partners' stakeholders have lived and worked in dozens of countries, and are fluent in the language, commerce and culture of diverse economies that represent a significant portion of the world's economic value and future growth. We believe that identifying the most attractive investment opportunities takes the proper focus: a global focus.

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Echo Street Capital Management uses a variety of methods and strategies to make investment decisions and recommendations. Their analysis is primarily based on fundamental research, but that may be augmented by charting and cyclical analysis, as well as the use of quantitative tools and investment approaches. Echo Street’s analysis focuses on valuation and value creation and seeks to understand what a company is worth, as well as what it is worth relative to other investment opportunities. Echo Street employs a variety of strategies in managing the assets of their hedge fund clients and managed account clients, including: Fundamental Value, Short Selling, Relative Value, Short Term Trading, Arbitrage Transactions, Option Trading, and Hedging. With regard to arbitrage transactions, Echo Street may consider opportunities in event-driven arbitrage, merger arbitrage, capital structure arbitrage, convertible arbitrage, fixed income or interest rate arbitrage, statistical arbitrage, debt spread arbitrage and index arbitrage. The firm utilizes a variety of financial instruments and derivatives such as options, interest rate swaps, forward contracts, swaption contracts, and credit default swaps for risk management purposes. When Echo Street engages in option trading, it is generally by writing puts or writing covered calls, but they may also buy options. On behalf of their long-only clients, Echo Street also pursues a variety of strategies, including: Long Only, Buy-and-Hold, Long-Term Investments, and Low Portfolio Turnover. The firm’s long-only strategy does not engage in the short selling of equity securities. Echo Street may attempt to hedge certain investment risks (e.g., currency exposure) but generally will be less hedged to broader equity market forces than private investment funds that engage in the active short selling of equity securities. Echo Street generally employs a buy-and-hold strategy on behalf of their long-only clients in an attempt to capture the long-term value creation they believe the companies the long-only clients invest in create. It is intended that these clients have relatively low position turnover with a focus on tax efficiency.

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Emerald Mutual Fund Advisers Trust (EMFAT) invests their clients' assets primarily in U.S. domestic equity securities. The firm's investment strategies include small-cap growth, small-cap value, and mid- and large-cap stocks. EMFAT employs intense fundamental, bottom-up research designed to identify unrecognized, under-researched, undervalued, as well as overvalued companies.

Recent Transactions
Details Hidden

Meritage Homes Corporation purchases Legendary Communities Alabama LLC from Legendary Communities Alabama LLC, Legendary Realty & Marketing, Inc.

Details Hidden

Meritage Homes Corporation issued Common Stock

Details Hidden

Meritage Homes Corporation purchases Phillips Builders

Insider Transactions
Details Hidden
Transaction Advisors
Legal Advisor

Advised onMeritage Homes Corporation purchases Legendary Communities Alabama LLC from Legendary Communities Alabama LLC, Legendary Realty & Marketing, Inc.

Auditor

Advised onMeritage Homes Corporation issued Common Stock

Underwriter

Advised onMeritage Homes Corporation issued Common Stock

Legal Advisor

Advised onMeritage Homes Corporation purchases Legendary Communities Alabama LLC from Legendary Communities Alabama LLC, Legendary Realty & Marketing, Inc.

Director

Advised onMeritage Homes Corporation issued Common Stock

Co-Head of Americas Real Estate Investment Banking

Advised onMeritage Homes Corporation issued Common Stock

Advisors & Consultants
Legal Advisor

Co-Managing Partner at DLA Piper

Real Estate Agent

Managing Director at Newmark Knight Frank

Real Estate Agent

Executive Managing Director at Newmark Knight Frank

Key Stats and Financials As of 2017
Market Capitalization
$1.86B
Total Enterprise Value
$3.28B
Earnings Per Share
$3.41
Revenue
$3.24B
EBITDAMargin
7.58%
Total Debt
$1.28B
Total Equity
$1.58B
Net Profit
$143M
EBITDA
$246M
Enterprise Value Sales
1.01x
Enterprise Value EBITDAOperating
13.33x
TEVNet Income
22.86x
Debt TEV
0.39x
Three Year Compounded Annual Growth Rate Of Revenue
14.14%
Five Year Compounded Annual Growth Rate Of Revenue
22.11%
Non-Profit Donations & Grants
Political Donations
Investors
Details Hidden

Owner at Sochet & Co., Inc.

Suppliers
Whirlpool Corp. Appliances & Electronics | Benton Harbor, MI

Whirlpool Corp. engages in the manufacturing and marketing home appliances. The company's products include home laundry appliances, home refrigerators and freezers, home cooking appliances, home dishwashers, and room air-conditioning equipment, mixers, and portable household appliances. Its brands include Whirlpool, Brastemp, Indesit, Maytag, KitchenAid, Jenn-Air, Amana, Bauknecht, Brastemp, and Consul. The company was founded by Emory Upton, Fred Upton, and Louis C. Upton in 1955 and is headquartered in Benton Harbor, MI.

Awards & Honors
Rank #822
2016
Fortune Magazine - Fortune 1000 Companies
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