Atlas FRM LLC Invests $18.45 Million in Meritage Homes Corporation $MTH

Atlas FRM LLC acquired a new position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 220,000 shares of the construction company's stock, valued at approximately $18,447,000. Meritage Homes accounts for about 0.0% of Atlas FRM LLC's portfolio, making the stock its 21st largest holding. Atlas FRM LLC owned approximately 0.34% of Meritage Homes as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTH. Ceredex Value Advisors LLC acquired a new stake in shares of Meritage Homes during the 2nd quarter valued at approximately $12,540,000. Abacus Wealth Partners LLC acquired a new stake in Meritage Homes in the fourth quarter worth $1,880,000. Weiss Asset Management LP acquired a new stake in Meritage Homes in the first quarter worth $916,000. Mizuho Markets Americas LLC acquired a new stake in Meritage Homes in the fourth quarter worth $9,003,000. Finally, iA Global Asset Management Inc. acquired a new stake in Meritage Homes in the first quarter worth $6,650,000. 98.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group reaffirmed a "buy" rating and issued a $88.00 target price (up from $86.00) on shares of Meritage Homes in a research report on Friday, July 31st. Citigroup reaffirmed a "market outperform" rating on shares of Meritage Homes in a research report on Monday, July 6th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $93.00 target price (up from $82.00) on shares of Meritage Homes in a research report on Friday, July 10th. Weiss Ratings raised Meritage Homes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Meritage Homes from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.25.

Meritage Homes Price Performance

Shares of MTH opened at $71.07 on Friday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 5.16 and a beta of 1.36. 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 one year low of $58.03 and a one year high of $85.38. The stock's fifty day moving average is $74.89 and its 200-day moving average is $70.35.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.12. The company had revenue of $1.41 billion for 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%.The company's quarterly revenue was down 14.1% compared to the same quarter last year. During the same period last year, the company earned $2.04 earnings per share. Equities analysts anticipate that Meritage Homes Corporation will post 5.04 EPS for the current year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. 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 currently 40.17%.

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.

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