LSV Asset Management Has $23.81 Million Holdings in Meritage Homes Corporation $MTH

Key Points

• LSV Asset Management cut its Meritage Homes stake by 7.4% in the fourth quarter, leaving it with 361,857 shares valued at about $23.81 million.
• Meritage Homes reported weaker-than-expected quarterly results, with EPS of $0.86 versus $0.98 expected and revenue of $1.12 billion versus $1.55 billion estimated; revenue also fell 17.5% from a year earlier.
• Analysts are mixed on the stock, with an average rating of “Hold” and an average price target of $79.89, while the company also announced a $0.48 quarterly dividend payable June 30.

LSV Asset Management lowered its position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,857 shares of the construction company's stock after selling 28,943 shares during the quarter. LSV Asset Management owned 0.51% of Meritage Homes worth $23,810,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in Meritage Homes by 19.2% in the 4th quarter. Covestor Ltd now owns 2,914 shares of the construction company's stock valued at $192,000 after buying an additional 469 shares during the period. GSA Capital Partners LLP increased its stake in shares of Meritage Homes by 164.5% during the 4th quarter. GSA Capital Partners LLP now owns 21,008 shares of the construction company's stock worth $1,382,000 after purchasing an additional 13,065 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Meritage Homes by 1.2% during the 4th quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company's stock worth $892,000 after buying an additional 164 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of Meritage Homes during the 4th quarter worth $1,880,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Meritage Homes during the 4th quarter worth $227,000. Institutional investors and hedge funds own 98.44% of the company's stock.

Analyst Upgrades and Downgrades

MTH has been the subject of several recent analyst reports. Truist Financial set a $80.00 price objective on shares of Meritage Homes and gave the stock a "buy" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Meritage Homes from $78.00 to $76.00 and set a "market perform" rating for the company in a report on Tuesday, February 3rd. Bank of America decreased their price objective on shares of Meritage Homes from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Monday, April 20th. UBS Group set a $86.00 price objective on shares of Meritage Homes and gave the stock a "buy" rating in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of Meritage Homes from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.89.

Meritage Homes Trading Up 0.1%

Shares of MTH stock opened at $64.26 on Monday. Meritage Homes Corporation has a 52-week low of $58.03 and a 52-week high of $84.74. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.84 and a beta of 1.43. 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 fifty day moving average of $64.01 and a 200-day moving average of $68.78.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.12). Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the company posted $1.69 EPS. The company's quarterly revenue was down 17.5% compared to the same quarter last year. On average, equities research analysts forecast that Meritage Homes Corporation will post 5.01 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.0%. Meritage Homes's dividend payout ratio is currently 35.23%.

Insider Activity

In related news, CAO Alison Sasser sold 1,273 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total transaction of $79,066.03. Following the completion of the sale, the chief accounting officer owned 7,634 shares in the company, valued at $474,147.74. This trade represents a 14.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 1,567 shares of company stock worth $101,645. Company insiders own 2.50% of the company's stock.

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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