Meritage Homes Corporation $MTH Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Meritage Homes Corporation (NYSE:MTH) by 32.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,538 shares of the construction company’s stock after buying an additional 18,962 shares during the period. Pictet Asset Management Holding SA owned 0.12% of Meritage Homes worth $4,810,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Meritage Homes by 88.0% during the 3rd quarter. Parallel Advisors LLC now owns 487 shares of the construction company’s stock valued at $31,000 after acquiring an additional 228 shares during the last quarter. Abacus Wealth Partners LLC grew its holdings in shares of Meritage Homes by 11.3% during the third quarter. Abacus Wealth Partners LLC now owns 10,400 shares of the construction company’s stock worth $654,000 after purchasing an additional 1,055 shares in the last quarter. Heritage Family Offices LLP bought a new position in shares of Meritage Homes in the third quarter worth approximately $59,000. Salomon & Ludwin LLC increased its position in shares of Meritage Homes by 106.9% in the third quarter. Salomon & Ludwin LLC now owns 573 shares of the construction company’s stock worth $36,000 after purchasing an additional 296 shares during the last quarter. Finally, Vise Technologies Inc. increased its position in shares of Meritage Homes by 13.0% in the third quarter. Vise Technologies Inc. now owns 5,950 shares of the construction company’s stock worth $374,000 after purchasing an additional 684 shares during the last quarter. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Price Performance

MTH stock traded down $0.37 during mid-day trading on Friday, hitting $64.43. 486,362 shares of the stock were exchanged, compared to its average volume of 1,073,220. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.72. The business has a fifty day moving average price of $63.85 and a 200 day moving average price of $68.69. Meritage Homes Corporation has a 12 month low of $56.66 and a 12 month high of $85.38. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 5.46 and a beta of 1.31.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Meritage Homes had a return on equity of 6.69% and a net margin of 5.79%. Meritage Homes’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, sell-side analysts anticipate that Meritage Homes Corporation will post 4.38 EPS for the current year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.48 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 3.0%. Meritage Homes’s payout ratio is presently 43.34%.

Wall Street Analysts Forecast Growth

MTH has been the topic of a number of recent analyst reports. Melius Research began coverage on shares of Meritage Homes in a research note on Tuesday, October 6th. They issued a “sell” rating and a $59.00 target price on the stock. Weiss Ratings cut shares of Meritage Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, November 2nd. The Goldman Sachs Group set a $82.00 price target on shares of Meritage Homes and gave the stock a “buy” rating in a research note on Monday, October 12th. Wolfe Research lowered shares of Meritage Homes from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Finally, Wall Street Zen cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Meritage Homes has an average rating of “Hold” and an average price target of $72.44.

Meritage Homes Profile

Meritage Homes Corporation is a U.S. homebuilder that designs, builds and sells single-family homes. Its communities generally serve buyers seeking entry-level and move-up housing, with home designs, layouts and finishes offered in a range of options. Founded in 1985 and headquartered in Scottsdale, Arizona, the company operates in markets across the western and southern United States, including parts of the Southeast. Its homes incorporate energy-efficient features and building practices as part of the company’s focus on helping homeowners manage energy use.