6 days Ago By ABMN Staff
Meritage Homes ( NYSE:MTH – Free Report ) had its price target reduced by Keefe, Bruyette & Woods from $90.00 to $77.00 in a research report sent to investors on Monday, Benzinga reports.
They currently have a market perform rating on the construction company’s stock. Other equities analysts have also issued research reports about the stock. StockNews.
com lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. Wedbush reissued a “neutral” rating and issued a $103.00 price objective on shares of Meritage Homes in a research report on Tuesday, February 4th.
Seaport Res Ptn raised shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group cut their price objective on shares of Meritage Homes from $117.50 to $100.
00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, UBS Group cut their price objective on shares of Meritage Homes from $126.00 to $118.
00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $104.
63. View Our Latest Stock Report on Meritage Homes Meritage Homes Stock Performance Meritage Homes ( NYSE:MTH – Get Free Report ) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.
69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.02).
The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion.
Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%.
The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.
06 EPS. As a group, research analysts predict that Meritage Homes will post 9.44 EPS for the current fiscal year.
Meritage Homes Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.43 per share.
This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. This represents a $1.
72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, March 17th.
Meritage Homes’s payout ratio is currently 14.06%. Insiders Place Their Bets In other news, COO Clinton Szubinski sold 595 shares of the company’s stock in a transaction on Wednesday, February 12th.
The shares were sold at an average price of $73.29, for a total value of $43,607.55.
Following the completion of the transaction, the chief operating officer now directly owns 30,547 shares in the company, valued at approximately $2,238,789.63. This represents a 1.
91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . Also, Chairman Steven J.
Hilton purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $74.51 per share, for a total transaction of $819,610.
00. Following the purchase, the chairman now directly owns 811,192 shares in the company, valued at $60,441,915.92.
This trade represents a 1.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here .
Insiders sold a total of 1,683 shares of company stock worth $122,547 over the last ninety days. 2.20% of the stock is owned by company insiders.
Institutional Trading of Meritage Homes Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Meritage Homes by 0.
7% during the fourth quarter. Vanguard Group Inc. now owns 4,074,741 shares of the construction company’s stock valued at $626,777,000 after acquiring an additional 26,889 shares in the last quarter.
Greenhaven Associates Inc. grew its stake in shares of Meritage Homes by 94.1% during the first quarter.
Greenhaven Associates Inc. now owns 1,434,368 shares of the construction company’s stock valued at $101,668,000 after acquiring an additional 695,355 shares in the last quarter. Norges Bank acquired a new stake in shares of Meritage Homes during the fourth quarter valued at about $101,695,000.
First Trust Advisors LP grew its stake in shares of Meritage Homes by 61.6% during the fourth quarter. First Trust Advisors LP now owns 571,120 shares of the construction company’s stock valued at $87,850,000 after acquiring an additional 217,618 shares in the last quarter.
Finally, Hennessy Advisors Inc. grew its stake in shares of Meritage Homes by 82.2% during the first quarter.
Hennessy Advisors Inc. now owns 511,100 shares of the construction company’s stock valued at $36,227,000 after acquiring an additional 230,600 shares in the last quarter. 98.
44% of the stock is currently owned by institutional investors and hedge funds. About Meritage Homes ( Get Free Report ) 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. Featured Articles Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter .
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