Meritage Homes Corporation $MTH Shares Acquired by Caxton Associates LLP

Caxton Associates LLP increased its stake in shares of Meritage Homes Corporation (NYSE:MTH) by 27.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,591 shares of the construction company’s stock after buying an additional 10,823 shares during the quarter. Caxton Associates LLP owned about 0.07% of Meritage Homes worth $3,067,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MTH. Salomon & Ludwin LLC boosted its holdings in shares of Meritage Homes by 63.9% in the fourth quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock valued at $25,000 after acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC raised its holdings in Meritage Homes by 265.5% during the third 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 Meritage Homes in the fourth quarter worth approximately $39,000. EverSource Wealth Advisors LLC lifted its position in Meritage Homes by 194.9% in the second quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock worth $47,000 after purchasing an additional 462 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Meritage Homes during the 4th quarter valued at $49,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Alison Sasser sold 1,273 shares of the firm’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 sale, the chief accounting officer owned 7,634 shares of the company’s stock, valued at $474,147.74. This trade represents a 14.29% decrease in their ownership of the stock. The transaction 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 Up 1.7%

Shares of MTH stock opened at $72.83 on Friday. The firm has a market capitalization of $4.86 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.35. Meritage Homes Corporation has a 1 year low of $58.03 and a 1 year high of $85.38. The firm’s fifty day simple moving average is $72.85 and its 200 day simple moving average is $70.42. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36.

Meritage Homes (NYSE:MTH) last issued 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). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.55 billion. Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The company’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 firm posted $1.69 EPS. As a group, sell-side analysts predict that Meritage Homes Corporation will post 5 EPS for the current year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Meritage Homes’s payout ratio is currently 35.23%.

Analyst Upgrades and Downgrades

MTH has been the subject of a number of analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Meritage Homes in a research note on Monday, July 6th. Truist Financial set a $80.00 target price on shares of Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group restated a “buy” rating and issued a $93.00 price target (up from $82.00) on shares of Meritage Homes in a research report on Friday, July 10th. Zelman & Associates lowered shares of Meritage Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.00.

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.