Squarepoint Ops LLC decreased its holdings in Meritage Homes Corporation (NYSE:MTH – Free Report) by 63.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 217,472 shares of the construction company’s stock after selling 371,784 shares during the quarter. Squarepoint Ops LLC’s holdings in Meritage Homes were worth $18,235,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Essential Partners LLC raised its stake in shares of Meritage Homes by 163.8% in the first quarter. Essential Partners LLC now owns 401 shares of the construction company’s stock valued at $25,000 after acquiring an additional 249 shares in the last quarter. Larson Financial Group LLC increased its holdings in Meritage Homes by 265.5% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock worth $29,000 after purchasing an additional 292 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Meritage Homes by 194.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock worth $47,000 after purchasing an additional 462 shares during the period. Assetmark Inc. raised its position in Meritage Homes by 43.9% in 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 in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Meritage Homes in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $93.00 price objective (up from $82.00) on shares of Meritage Homes in a report on Friday, July 10th. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup reaffirmed a “market outperform” rating on shares of Meritage Homes in a research report on Monday, July 6th. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Finally, Zacks Research upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Meritage Homes has an average rating of “Hold” and an average target price of $79.25.
Meritage Homes Trading Down 0.8%
Shares of MTH stock opened at $63.89 on Thursday. The business’s 50 day moving average is $72.57 and its two-hundred day moving average is $69.63. Meritage Homes Corporation has a twelve month low of $58.03 and a twelve month high of $85.38. The company has a market capitalization of $4.16 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.
Meritage Homes (NYSE:MTH – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. Meritage Homes had a net margin of 6.11% and a return on equity of 7.13%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. Meritage Homes’s quarterly revenue was down 14.1% on a year-over-year basis. Equities analysts forecast that Meritage Homes Corporation will post 5.04 EPS for the current year.
Meritage Homes Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Meritage Homes’s dividend payout ratio (DPR) is currently 40.17%.
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.
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