Meritage Homes Corporation (MTH) to Issue Quarterly Dividend of $0.48 on September 30th

Meritage Homes Corporation (NYSE:MTH) announced a quarterly dividend on Thursday, August 20th. Investors of record on Tuesday, September 15th will be given a dividend of 0.48 per share by the construction company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Meritage Homes has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meritage Homes to earn $5.84 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 32.9%.

Meritage Homes Price Performance

Shares of NYSE MTH opened at $64.27 on Friday. Meritage Homes has a fifty-two week low of $58.03 and a fifty-two week high of $85.38. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 4.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s 50-day simple moving average is $71.82 and its 200 day simple moving average is $69.48.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.12. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The company’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 EPS. As a group, research analysts anticipate that Meritage Homes will post 5.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Meritage Homes

Several institutional investors have recently modified their holdings of MTH. New Age Alpha Advisors LLC lifted its holdings in shares of Meritage Homes by 1.5% during the fourth quarter. New Age Alpha Advisors LLC now owns 10,627 shares of the construction company’s stock valued at $699,000 after purchasing an additional 158 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Meritage Homes by 1.2% in the 4th quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company’s stock worth $892,000 after buying an additional 164 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of Meritage Homes by 2.0% in the 1st quarter. Glenmede Trust Co. NA now owns 9,223 shares of the construction company’s stock worth $570,000 after buying an additional 179 shares during the last quarter. CIBC Asset Management Inc increased its position in Meritage Homes by 2.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,916 shares of the construction company’s stock valued at $455,000 after buying an additional 185 shares in the last quarter. Finally, Xponance LLC increased its position in Meritage Homes by 2.7% during the 4th quarter. Xponance LLC now owns 7,868 shares of the construction company’s stock valued at $518,000 after buying an additional 208 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

About Meritage Homes

Meritage Homes Corporation is a residential construction company that designs, builds and sells single-family homes in the United States. The company primarily serves first-time and move-up buyers, offering homes in a range of floor plans, communities and price points. Its operations also include land acquisition and development, as well as related services such as mortgage financing and title insurance through affiliated businesses.

Meritage emphasizes energy-efficient construction and incorporates features intended to improve home comfort, durability and operating efficiency.