LSV Asset Management Has $23.81 Million Stock Position in Meritage Homes Corporation $MTH

LSV Asset Management lowered its position in shares of Meritage Homes Corporation (NYSE:MTH) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,857 shares of the construction company’s stock after selling 28,943 shares during the quarter. LSV Asset Management’s holdings in Meritage Homes were worth $23,810,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MTH. Salomon & Ludwin LLC increased its position in shares of Meritage Homes by 63.9% during the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after purchasing an additional 145 shares in the last quarter. Larson Financial Group LLC increased its position in shares of 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 in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Meritage Homes during the 4th quarter worth about $39,000. EverSource Wealth Advisors LLC increased its position in shares of 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 in the last quarter. Finally, Signaturefd LLC increased its position in shares of Meritage Homes by 25.7% during the 4th quarter. Signaturefd LLC now owns 808 shares of the construction company’s stock worth $53,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Insider Activity at Meritage Homes

In other news, CAO Alison Sasser sold 1,273 shares of Meritage Homes stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total transaction of $79,066.03. Following the completion of the sale, the chief accounting officer owned 7,634 shares in the company, valued at $474,147.74. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 1,567 shares of company stock worth $101,645. 2.50% of the stock is owned by insiders.

Meritage Homes Trading Up 0.1%

MTH opened at $64.26 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $4.29 billion, a PE ratio of 11.79, a PEG ratio of 2.84 and a beta of 1.43. Meritage Homes Corporation has a 1-year low of $58.03 and a 1-year high of $84.74. The firm has a 50-day moving average price of $64.01 and a two-hundred day moving average price of $68.78.

Meritage Homes (NYSE:MTH) last issued its earnings results on Wednesday, April 22nd. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.12). Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $1.69 EPS. The firm’s revenue for the quarter was down 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that Meritage Homes Corporation will post 5.01 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. Meritage Homes’s payout ratio is currently 35.23%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTH. UBS Group set a $86.00 price objective on shares of Meritage Homes and gave the company a “buy” rating in a research report on Friday, April 24th. Bank of America lowered their price objective on shares of Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Keefe, Bruyette & Woods lowered their price objective on shares of Meritage Homes from $78.00 to $76.00 and set a “market perform” rating for the company in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Finally, Truist Financial set a $80.00 price objective on shares of Meritage Homes and gave the company a “buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.89.

Meritage Homes 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.