Meritage Homes Corporation $MTH is SummitTX Capital L.P.'s 8th Largest Position

SummitTX Capital L.P. lifted its holdings in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,614 shares of the construction company's stock after buying an additional 65,540 shares during the period. Meritage Homes makes up 0.9% of SummitTX Capital L.P.'s portfolio, making the stock its 8th biggest position. SummitTX Capital L.P. owned about 0.71% of Meritage Homes worth $29,165,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake in Meritage Homes by 63.9% during the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company's stock valued at $25,000 after acquiring an additional 145 shares during the period. New Age Alpha Advisors LLC boosted its holdings in Meritage Homes by 1.5% in the fourth quarter. New Age Alpha Advisors LLC now owns 10,627 shares of the construction company's stock worth $699,000 after purchasing an additional 158 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Meritage Homes by 1.2% in the fourth quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company's stock worth $892,000 after purchasing an additional 164 shares during the last quarter. Signaturefd LLC grew its position in Meritage Homes by 25.7% in the 4th quarter. Signaturefd LLC now owns 808 shares of the construction company's stock worth $53,000 after purchasing an additional 165 shares during the period. Finally, CIBC Asset Management Inc grew its position in Meritage Homes by 2.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,916 shares of the construction company's stock worth $455,000 after purchasing an additional 185 shares during the period. 98.44% of the stock is currently owned by institutional investors.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 1,273 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 7,634 shares in the company, valued at $474,147.74. This represents a 14.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company's stock.

Meritage Homes Trading Down 0.2%

NYSE:MTH opened at $72.83 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. Meritage Homes Corporation has a one year low of $58.03 and a one year high of $85.38. The business has a fifty day moving average price of $72.85 and a 200-day moving average price of $70.44.

Meritage Homes Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MTH. Zelman & Associates downgraded Meritage Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reissued 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 upgraded Meritage Homes from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 24th. Citigroup reaffirmed a "market outperform" rating on shares of Meritage Homes in a research report on Monday, July 6th. Finally, Bank of America lowered their price objective on shares of Meritage Homes from $74.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $79.00.

Meritage Homes Company 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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