7,943 Shares in Meritage Homes Corporation $MTH Bought by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in shares of Meritage Homes Corporation (NYSE:MTH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,943 shares of the construction company’s stock, valued at approximately $575,000.

Several other hedge funds also recently bought and sold shares of MTH. Balyasny Asset Management L.P. lifted its holdings 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 valued at $95,299,000 after buying an additional 527,265 shares during the last quarter. Norges Bank acquired a new position in Meritage Homes in the second quarter worth approximately $75,148,000. Goldman Sachs Group Inc. raised its position in Meritage Homes by 58.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after acquiring an additional 391,297 shares in the last quarter. Groupama Asset Managment raised its position in Meritage Homes by 100.0% during the second quarter. Groupama Asset Managment now owns 1,000,000 shares of the construction company’s stock valued at $66,970,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Dendur Capital LP lifted its stake in Meritage Homes by 55.5% in the second quarter. Dendur Capital LP now owns 876,000 shares of the construction company’s stock valued at $58,666,000 after acquiring an additional 312,500 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Trading Down 1.3%

Meritage Homes stock opened at $76.83 on Tuesday. Meritage Homes Corporation has a 52 week low of $59.27 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $5.13 billion, a PE ratio of 12.16, a PEG ratio of 1.38 and a beta of 1.48. The business’s 50-day simple moving average is $72.38 and its 200-day simple moving average is $72.50.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, January 28th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. Meritage Homes had a return on equity of 9.28% and a net margin of 7.73%.The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 EPS. Equities research analysts forecast that Meritage Homes Corporation will post 9.44 earnings per share for the current year.

Meritage Homes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.5%. This is an increase from Meritage Homes’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, March 17th. Meritage Homes’s payout ratio is presently 27.22%.

Wall Street Analysts Forecast Growth

MTH has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Meritage Homes from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Bank of America reiterated a “neutral” rating and issued a $82.00 price objective (up from $75.00) on shares of Meritage Homes in a report on Friday, January 16th. Evercore set a $77.00 target price on Meritage Homes and gave the company an “in-line” rating in a report on Thursday, December 4th. Wall Street Zen cut Meritage Homes from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Zacks Research lowered Meritage Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.63.

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.