Wealth management firm 180 Wealth Advisors LLC has revealed a decrease in its holdings of Meritage Homes Co. (NYSE:MTH) during the second quarter of this year. According to their latest filing with the Securities & Exchange Commission, 180 Wealth Advisors LLC sold 2,231 shares of the construction company’s stock, resulting in a reduction of their position by 30.3%. At the end of the period, they owned 5,140 shares of Meritage Homes valued at $725,000.
Meritage Homes recently disclosed its plans to distribute a quarterly dividend on Friday, September 29th. Shareholders recorded on Friday, September 15th will receive a dividend payment of $0.27 per share. This equates to an annualized dividend payout of $1.08 per share and a dividend yield of 0.83%. The ex-dividend date is Thursday, September 14th.
Meritage Homes’ current dividend payout ratio stands at 4.75%. This ratio represents the proportion of earnings that is being distributed to shareholders as dividends versus being retained within the company for reinvestment or other purposes.
Investors who are interested in learning more about the company and its financial performance can refer to our latest stock report on Meritage Homes for additional insights and analysis.
Please note that this information is accurate as of September 19, 2023.
UnitedHealth Group Incorporated
UNH
Strong Buy
Updated on: 27/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds and Institutional Investors Show Strong Interest in Meritage Homes as Company Achieves Impressive Financial Results
In recent months, various hedge funds and institutional investors have taken actions to modify their positions in Meritage Homes, a leading construction company. As of the fourth quarter of the previous fiscal year, OLD Mission Capital LLC has purchased a new stake in Meritage Homes worth approximately $29,000. Similarly, Hollencrest Capital Management also acquired a new stake during the first quarter valued at $29,000. Moreover, EverSource Wealth Advisors LLC witnessed significant growth in its holdings in Meritage Homes by 36.9% during the same period.
EverSource Wealth Advisors currently owns 393 shares of Meritage Homes’ stock with an estimated value of $46,000 after purchasing an additional 106 shares in the last quarter. Additionally, Versant Capital Management Inc embraced an opportunity to amplify its stake in Meritage Homes by 183.5% in the second quarter and now owns 326 shares valued at $46,000 after acquiring an extra 211 shares. Lastly, Quantbot Technologies LP also invested with a new stake in Meritage Homes during the first quarter for approximately $48,000.
These investments made by hedge funds and institutional investors collectively account for 99.48% ownership of Meritage Homes’ stock.
Recent reports from several brokerages shed light on Meritage Homes (MTH). Wedbush issued a research note on July 7th raising their price objective on MTH from $137.00 to $141.00. Additionally, UBS Group increased their price target from $155.00 to $188.00 and bestowed a “buy” rating upon the stock on July 31st.
Deutsche Bank Aktiengesellschaft initiated coverage of Meritage Homes on May 31st and designated it as a “buy” rated stock. Furthermore, Seaport Res Ptn reaffirmed a “neutral” rating on MTH shares on June 14th while StockNews.com downgraded the stock from “buy” to “hold” on August 24th.
According to Bloomberg, Meritage Homes currently holds a consensus rating of “Moderate Buy” among research analysts, with an average price target of $136.33.
On Tuesday, shares of MTH began trading at $129.39. Over the past year, Meritage Homes has demonstrated significant price volatility, with its stock reaching a low of $65.40 and a high of $152.55. The company’s 50-day moving average stands at $140.14 while its two-hundred day moving average is valued at $128.85.
Meritage Homes possesses a quick ratio and current ratio of 2.18 each along with a debt-to-equity ratio of 0.27, indicating sound financial health in terms of liquidity and debt management. Additionally, the company boasts a market capitalization of approximately $4.76 billion and holds a price-to-earnings ratio of 5.69.
In its most recent earnings release on July 27th, Meritage Homes reported impressive results for the quarter with earnings per share (EPS) totaling $5.02, surpassing the consensus estimate by $1..53.The company’s net margin stood at 13.10%, showcasing strong profitability and it achieved a return on equity (ROE) of 21/15%. Moreover, Meritage Homes generated revenue amounting to $1.54 billion for the quarter, surpassing analyst predictions of $1.31 billion.Capitalizing on growth opportunities in the construction industry,Meritage Homes experienced a 9..5% increase in revenue compared to the same period last year.
As analysts project further success for Meritage Homes, it is estimated that the company will post earnings per share (EPS) valued at 19/.45 for this fiscal year.
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