Meritage Homes Corporation $MTH Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Meritage Homes Corporation (NYSE:MTH) by 38.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 66,587 shares of the construction company’s stock after selling 40,729 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Meritage Homes were worth $4,118,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its stake 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 valued at $25,000 after acquiring an additional 145 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Meritage Homes by 265.5% in the third quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Meritage Homes in the fourth quarter valued at approximately $39,000. EverSource Wealth Advisors LLC grew its holdings in Meritage Homes by 194.9% in the second quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock valued at $47,000 after purchasing an additional 462 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Meritage Homes in the fourth quarter valued at approximately $49,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. 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 note on Tuesday, April 28th. Bank of America dropped their price objective on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Weiss Ratings raised Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. Finally, Truist Financial set a $80.00 target price on Meritage Homes and gave the company a “buy” rating in a 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.89.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 1,273 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total transaction of $79,066.03. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Meritage Homes Trading Down 0.0%

Shares of MTH stock opened at $81.83 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. Meritage Homes Corporation has a fifty-two week low of $58.03 and a fifty-two week high of $85.38. The firm’s 50 day moving average price is $70.11 and its two-hundred day moving average price is $69.64. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 3.64 and a beta of 1.35.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data 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 return on equity of 8.08% and a net margin of 6.86%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $1.69 EPS. Meritage Homes’s revenue was down 17.5% on a year-over-year basis. On average, analysts anticipate that Meritage Homes Corporation will post 4.97 EPS for the current year.

Meritage Homes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Meritage Homes’s dividend payout ratio is 35.23%.

Meritage Homes Company 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.