50,636 Meritage Homes Corporation $MTH Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC cut its Meritage Homes stake by 97.2%, selling 50,636 shares in the second quarter and retaining 1,470 shares valued at approximately $123,000.
• Institutional ownership remains very high at 98.44%, although analyst sentiment is mixed: four analysts rate the stock a Buy and eight rate it a Hold, for a consensus Hold rating and average price target of $76.75.
• Meritage Homes reported quarterly EPS of $1.42, exceeding estimates of $1.30, while revenue fell 14.1% year over year to $1.41 billion. The company also declared a quarterly dividend of $0.48 per share, representing a 3.0% yield.

Integrated Wealth Concepts LLC decreased its stake in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 97.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,470 shares of the construction company's stock after selling 50,636 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Meritage Homes were worth $123,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTH. Essential Partners LLC lifted its stake in shares of Meritage Homes by 163.8% in the first quarter. Essential Partners LLC now owns 401 shares of the construction company's stock worth $25,000 after buying an additional 249 shares in the last quarter. IFP Advisors Inc grew its position in Meritage Homes by 767.6% during the second quarter. IFP Advisors Inc now owns 616 shares of the construction company's stock valued at $52,000 after buying an additional 545 shares during the period. Assetmark Inc. increased its stake in shares of Meritage Homes by 43.9% in the 1st quarter. Assetmark Inc. now owns 774 shares of the construction company's stock worth $48,000 after purchasing an additional 236 shares in the last quarter. Versant Capital Management Inc increased its position in Meritage Homes by 62.4% in the second quarter. Versant Capital Management Inc now owns 1,351 shares of the construction company's stock worth $113,000 after buying an additional 519 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in Meritage Homes by 150.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the construction company's stock worth $93,000 after acquiring an additional 900 shares during the period. 98.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Zelman & Associates lowered Meritage Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. Evercore set a $65.00 price target on Meritage Homes in a report on Friday. UBS Group restated a "buy" rating and issued a $88.00 price target (up from $86.00) on shares of Meritage Homes in a research note on Friday, July 31st. Truist Financial set a $72.00 price objective on shares of Meritage Homes and gave the company a "hold" rating in a report on Wednesday, September 16th. Finally, Weiss Ratings cut shares of Meritage Homes from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Meritage Homes currently has a consensus rating of "Hold" and an average target price of $76.75.

Meritage Homes Trading Up 0.1%

Shares of MTH opened at $65.07 on Tuesday. The stock has a market capitalization of $4.24 billion, a PE ratio of 13.61, a P/E/G ratio of 4.78 and a beta of 1.35. The company's fifty day moving average is $69.50 and its 200 day moving average is $68.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Meritage Homes Corporation has a fifty-two week low of $58.03 and a fifty-two week high of $85.38.

Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.30 by $0.12. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business posted $2.04 earnings per share. The firm's revenue was down 14.1% on a year-over-year basis. Sell-side analysts expect that Meritage Homes Corporation will post 5.02 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Meritage Homes's dividend payout ratio (DPR) is presently 40.17%.

Meritage Homes Company Profile

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.

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