Meritage Homes Corporation $MTH Shares Purchased by 1492 Capital Management LLC

1492 Capital Management LLC boosted its position in shares of Meritage Homes Corporation (NYSE:MTH) by 26.6% in the 1st quarter, HoldingsChannel reports. The fund owned 91,090 shares of the construction company’s stock after acquiring an additional 19,130 shares during the period. Meritage Homes accounts for about 2.1% of 1492 Capital Management LLC’s portfolio, making the stock its 11th biggest holding. 1492 Capital Management LLC’s holdings in Meritage Homes were worth $5,633,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Meritage Homes by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,901,851 shares of the construction company’s stock valued at $190,943,000 after purchasing an additional 16,338 shares during the last quarter. Capital World Investors lifted its position in Meritage Homes by 44.3% in the third quarter. Capital World Investors now owns 1,987,850 shares of the construction company’s stock valued at $143,980,000 after acquiring an additional 609,866 shares during the last quarter. Greenhaven Associates Inc. lifted its position in Meritage Homes by 0.9% in the fourth quarter. Greenhaven Associates Inc. now owns 1,465,340 shares of the construction company’s stock valued at $96,419,000 after acquiring an additional 12,386 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Meritage Homes by 58.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock valued at $95,299,000 after acquiring an additional 527,265 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Meritage Homes by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after acquiring an additional 391,297 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Price Performance

Shares of MTH opened at $85.17 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $68.63 and its two-hundred day moving average is $69.24. Meritage Homes Corporation has a twelve month low of $58.03 and a twelve month high of $85.38. The firm has a market capitalization of $5.68 billion, a PE ratio of 15.63, a P/E/G ratio of 3.79 and a beta of 1.39.

Meritage Homes (NYSE:MTH) last issued its earnings results on Wednesday, April 22nd. The construction company reported $0.86 earnings per share (EPS) 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 analysts’ expectations of $1.55 billion. Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The business’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period last year, the company posted $1.69 earnings per share. Research analysts anticipate that Meritage Homes Corporation will post 4.97 earnings per share for the current year.

Meritage Homes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.48 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.92 annualized dividend and a yield of 2.3%. Meritage Homes’s dividend payout ratio is presently 35.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTH shares. JPMorgan Chase & Co. cut their target price on Meritage Homes from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Truist Financial set a $80.00 price target on Meritage Homes and gave the stock a “buy” rating in a research note on Thursday, April 16th. Zacks Research cut Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Bank of America decreased their price objective on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Finally, UBS Group set a $86.00 target price on shares of Meritage Homes and gave the stock a “buy” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.89.

Insider Transactions at Meritage Homes

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

About Meritage Homes

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.