Meritage Homes (NYSE:MTH) Posts Earnings Results

Meritage Homes (NYSE:MTH) posted its quarterly earnings data on Wednesday. The construction company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.29 by $0.13, FiscalAI reports. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%.

Meritage Homes Stock Performance

MTH traded down $1.77 during midday trading on Wednesday, hitting $71.47. 1,070,371 shares of the company were exchanged, compared to its average volume of 973,458. The company’s 50 day simple moving average is $73.34 and its 200 day simple moving average is $70.53. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 3.25 and a beta of 1.35. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36. Meritage Homes has a 1-year low of $58.03 and a 1-year high of $85.38.

Meritage Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 16th. Meritage Homes’s dividend payout ratio is presently 35.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Truist Financial set a $80.00 price objective on Meritage Homes and gave the company a “buy” rating in a report on Thursday, April 16th. Weiss Ratings upgraded Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Finally, UBS Group set a $86.00 target price on Meritage Homes and gave the stock a “buy” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.00.

Insider Buying and Selling at Meritage Homes

In other news, CAO Alison Sasser sold 1,273 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTH. Balyasny Asset Management L.P. grew its stake in shares of Meritage Homes by 58.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock worth $95,299,000 after purchasing an additional 527,265 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Meritage Homes by 58.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after purchasing an additional 391,297 shares during the period. Sophron Capital Management L.P. acquired a new position in shares of Meritage Homes in the 2nd quarter valued at $17,613,000. Millennium Management LLC boosted its holdings in Meritage Homes by 49.6% during the fourth quarter. Millennium Management LLC now owns 792,731 shares of the construction company’s stock worth $52,162,000 after buying an additional 262,928 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Meritage Homes by 692.1% during the fourth quarter. Squarepoint Ops LLC now owns 214,796 shares of the construction company’s stock valued at $14,134,000 after buying an additional 187,678 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Company 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.