Jupiter Topco LLC Makes New $2.24 Million Investment in Meritage Homes Corporation $MTH

Key Points

• Jupiter Topco LLC acquired 26,656 shares of Meritage Homes valued at approximately $2.24 million, while institutional investors and hedge funds collectively own 98.44% of the company.
• Meritage Homes reported quarterly EPS of $1.42, beating estimates of $1.30, but revenue fell 14.1% year over year to $1.41 billion and EPS declined from $2.04 in the prior-year quarter.
• The company declared a quarterly dividend of $0.48 per share, equivalent to $1.92 annually and a 2.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $79.25.

Jupiter Topco LLC bought a new position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,656 shares of the construction company's stock, valued at approximately $2,237,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MTH. Essential Partners LLC boosted its holdings in shares of Meritage Homes by 163.8% in the 1st quarter. Essential Partners LLC now owns 401 shares of the construction company's stock valued at $25,000 after buying an additional 249 shares during the period. Larson Financial Group LLC raised its stake 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 acquiring an additional 292 shares during the period. EverSource Wealth Advisors LLC raised its stake in Meritage Homes by 194.9% during the second quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company's stock worth $47,000 after acquiring an additional 462 shares during the period. Kestra Advisory Services LLC bought a new position in Meritage Homes in the fourth quarter worth about $49,000. Finally, Assetmark Inc. lifted its holdings in Meritage Homes by 43.9% in the first quarter. Assetmark Inc. now owns 774 shares of the construction company's stock worth $48,000 after acquiring an additional 236 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Stock Performance

MTH opened at $67.36 on Friday. The business's 50 day moving average is $74.01 and its 200-day moving average is $70.01. The stock has a market cap of $4.39 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 4.93 and a beta of 1.35. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Meritage Homes Corporation has a twelve month low of $58.03 and a twelve month high of $85.38.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.12. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $2.04 EPS. The business's revenue for the quarter was down 14.1% compared to the same quarter last year. On average, analysts predict that Meritage Homes Corporation will post 5.04 earnings per share for the current year.

Meritage Homes Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 2.9%. Meritage Homes's dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

Several research firms have recently commented on MTH. Zelman & Associates lowered Meritage Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Meritage Homes from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Zacks Research upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Citigroup restated a "market outperform" rating on shares of Meritage Homes in a research note on Monday, July 6th. Finally, 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. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Meritage Homes has an average rating of "Hold" and an average target price of $79.25.

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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