Meritage Homes Co. (NYSE:MTH) Position Trimmed by US Bancorp DE

US Bancorp DE trimmed its stake in Meritage Homes Co. (NYSE:MTH) by 44.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,062 shares of the construction company’s stock after selling 5,716 shares during the quarter. US Bancorp DE’s holdings in Meritage Homes were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MTH. CWM LLC grew its stake in Meritage Homes by 15.5% in the third quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after purchasing an additional 58 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Meritage Homes by 2.9% during the 2nd quarter. Xponance Inc. now owns 2,288 shares of the construction company’s stock valued at $370,000 after buying an additional 64 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Meritage Homes by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,719 shares of the construction company’s stock valued at $558,000 after buying an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Meritage Homes by 5.4% in the second quarter. AlphaMark Advisors LLC now owns 1,842 shares of the construction company’s stock worth $298,000 after buying an additional 94 shares during the last quarter. Finally, DMC Group LLC raised its position in Meritage Homes by 4.5% during the second quarter. DMC Group LLC now owns 2,421 shares of the construction company’s stock valued at $392,000 after acquiring an additional 104 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Meritage Homes Trading Up 0.5 %

Meritage Homes stock opened at $187.64 on Friday. The business’s 50-day simple moving average is $194.90 and its 200-day simple moving average is $183.08. Meritage Homes Co. has a 52 week low of $129.42 and a 52 week high of $213.98. The firm has a market capitalization of $6.79 billion, a PE ratio of 8.49 and a beta of 1.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.29. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.98 earnings per share. Equities research analysts forecast that Meritage Homes Co. will post 21.16 earnings per share for the current year.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.60%. Meritage Homes’s payout ratio is 13.58%.

Analyst Ratings Changes

MTH has been the subject of several recent research reports. Wedbush raised shares of Meritage Homes from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $160.00 to $195.00 in a research report on Tuesday, October 15th. Raymond James cut shares of Meritage Homes from an “outperform” rating to a “market perform” rating in a report on Thursday. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Evercore ISI increased their price objective on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price for the company in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $218.17.

Meritage Homes Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.