Meritage Homes Corporation $MTH Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Meritage Homes Corporation (NYSE:MTH) by 38.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,587 shares of the construction company’s stock after selling 40,729 shares during the quarter. Pictet Asset Management Holding SA owned 0.10% of Meritage Homes worth $4,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC raised its holdings in Meritage Homes by 63.9% during the fourth quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after purchasing an additional 145 shares during the last quarter. New Age Alpha Advisors LLC grew its holdings in Meritage Homes by 1.5% in the fourth quarter. New Age Alpha Advisors LLC now owns 10,627 shares of the construction company’s stock valued at $699,000 after purchasing an additional 158 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Meritage Homes by 1.2% in the fourth quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company’s stock valued at $892,000 after buying an additional 164 shares in the last quarter. Signaturefd LLC increased its position in shares of Meritage Homes by 25.7% in the fourth quarter. Signaturefd LLC now owns 808 shares of the construction company’s stock valued at $53,000 after buying an additional 165 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Meritage Homes by 2.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,916 shares of the construction company’s stock worth $455,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MTH shares. Truist Financial set a $80.00 price objective on shares of Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. reduced their price target on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. UBS Group set a $86.00 price target on shares of Meritage Homes and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Zacks Research cut shares of Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.89.

Meritage Homes Stock Down 0.0%

Shares of NYSE:MTH opened at $81.83 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.46 billion, a P/E ratio of 15.01, a P/E/G ratio of 3.64 and a beta of 1.35. Meritage Homes Corporation has a 52-week low of $58.03 and a 52-week high of $85.38. The stock’s fifty day simple moving average is $70.11 and its 200-day simple moving average is $69.64.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The company’s revenue for the quarter was down 17.5% compared to the same quarter last year. As a group, equities research analysts forecast that Meritage Homes Corporation will post 4.97 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, June 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.3%. Meritage Homes’s payout ratio is 35.23%.

Insider Activity at Meritage Homes

In other news, CAO Alison Sasser sold 1,273 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total value of $79,066.03. Following the completion of the transaction, the chief accounting officer owned 7,634 shares of the company’s stock, valued at $474,147.74. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by company insiders.

Meritage Homes 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.