Meritage Homes Corporation Announces Quarterly Dividend of $0.48 (NYSE:MTH)

Meritage Homes Corporation (NYSE:MTH) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.48 per share by the construction company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Meritage Homes has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meritage Homes to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 32.5%.

Meritage Homes Trading Down 4.1%

Shares of Meritage Homes stock opened at $71.14 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 5.43 and a beta of 1.36. The business has a fifty day simple moving average of $75.17 and a 200-day simple moving average of $70.40. Meritage Homes has a fifty-two week low of $58.03 and a fifty-two week high of $85.38.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $2.04 earnings per share. Meritage Homes’s revenue was down 14.1% compared to the same quarter last year. On average, equities analysts forecast that Meritage Homes will post 5.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Meritage Homes

Institutional investors have recently made changes to their positions in the company. Ceredex Value Advisors LLC bought a new position in Meritage Homes during the 2nd quarter valued at about $12,540,000. Abacus Wealth Partners LLC acquired a new stake in shares of Meritage Homes during the fourth quarter worth approximately $1,880,000. Mizuho Markets Americas LLC acquired a new stake in shares of Meritage Homes during the fourth quarter worth approximately $9,003,000. Weiss Asset Management LP bought a new position in shares of Meritage Homes in the first quarter valued at approximately $916,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Meritage Homes in the 1st quarter worth approximately $6,650,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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.