D L Carlson Investment Group Inc. Purchases New Shares in Meritage Homes Corporation $MTH

D L Carlson Investment Group Inc. acquired a new stake in shares of Meritage Homes Corporation (NYSE:MTH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,950 shares of the construction company’s stock, valued at approximately $3,014,000. D L Carlson Investment Group Inc. owned approximately 0.06% of Meritage Homes at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Meritage Homes by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,901,851 shares of the construction company’s stock valued at $190,943,000 after purchasing an additional 16,338 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Meritage Homes by 58.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock worth $95,299,000 after purchasing an additional 527,265 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Meritage Homes by 58.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after buying an additional 391,297 shares during the last quarter. Norges Bank purchased a new stake in Meritage Homes in the 4th quarter valued at about $63,053,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Meritage Homes by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 855,679 shares of the construction company’s stock worth $56,304,000 after buying an additional 61,342 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Trading Down 4.1%

NYSE:MTH opened at $71.14 on Friday. Meritage Homes Corporation has a 12 month low of $58.03 and a 12 month high of $85.38. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $75.17 and its 200 day moving average is $70.40. The stock has a market capitalization of $4.64 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 5.43 and a beta of 1.36.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.12. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.Meritage Homes’s revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 earnings per share. Sell-side analysts expect that Meritage Homes Corporation will post 5.04 earnings per share for the current year.

Meritage Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 2.7%. Meritage Homes’s dividend payout ratio (DPR) is 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTH. Weiss Ratings upgraded Meritage Homes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price target on Meritage Homes from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Zacks Research upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Zelman & Associates cut Meritage Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Finally, Citigroup restated a “market outperform” rating on shares of Meritage Homes in a research note on Monday, July 6th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Meritage Homes currently has a consensus rating of “Hold” and an average price target of $79.25.

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.