Entropy Technologies LP Purchases 23,486 Shares of Meritage Homes Corporation $MTH

Key Points

• Entropy Technologies LP increased its Meritage Homes stake by 485.4% in the first quarter, acquiring 23,486 additional shares for a total holding of 28,324 shares valued at approximately $1.75 million.
• Meritage Homes shares opened at $73.36, with the stock trading between a 52-week low of $58.03 and high of $85.38. Institutional investors own 98.44% of the company.
• The company recently paid a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 dividend and a 2.6% yield. Analysts maintain a consensus “Hold” rating with a target price of $79.00.

Entropy Technologies LP boosted its holdings in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 485.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,324 shares of the construction company's stock after acquiring an additional 23,486 shares during the period. Entropy Technologies LP's holdings in Meritage Homes were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MTH. Salomon & Ludwin LLC boosted its position in Meritage Homes by 63.9% during the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company's stock worth $25,000 after acquiring an additional 145 shares during the last quarter. Larson Financial Group LLC boosted its position in Meritage Homes by 265.5% during the third quarter. Larson Financial Group LLC now owns 402 shares of the construction company's stock worth $29,000 after purchasing an additional 292 shares during the period. Brown Lisle Cummings Inc. bought a new stake in shares of Meritage Homes during the 4th quarter worth about $39,000. EverSource Wealth Advisors LLC grew its position in shares of Meritage Homes by 194.9% in the second quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company's stock valued at $47,000 after purchasing an additional 462 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Meritage Homes by 43.9% in the 1st quarter. Assetmark Inc. now owns 774 shares of the construction company's stock valued at $48,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company's stock.

Meritage Homes Stock Up 0.6%

Shares of NYSE:MTH opened at $73.36 on Tuesday. The business's 50 day simple moving average is $73.09 and its two-hundred day simple moving average is $70.48. Meritage Homes Corporation has a 52-week low of $58.03 and a 52-week high of $85.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $4.89 billion, a P/E ratio of 13.46, a PEG ratio of 3.23 and a beta of 1.35.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. Meritage Homes's payout ratio is 35.23%.

Insider Activity

In related news, CAO Alison Sasser sold 1,273 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total value of $79,066.03. Following the completion of the sale, the chief accounting officer directly owned 7,634 shares of the company's stock, valued at approximately $474,147.74. This represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTH has been the topic of several recent research reports. Truist Financial set a $80.00 target price on shares of Meritage Homes and gave the stock a "buy" rating in a report on Thursday, April 16th. Zelman & Associates downgraded Meritage Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. Bank of America dropped their price target on Meritage Homes from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Meritage Homes from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings raised Meritage Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Meritage Homes has a consensus rating of "Hold" and a consensus target price of $79.00.

About Meritage Homes

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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