Radnor Capital Management LLC Has $1.14 Million Stake in Meritage Homes Co. (NYSE:MTH)

Radnor Capital Management LLC lifted its holdings in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 153.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,092 shares of the construction company's stock after acquiring an additional 9,736 shares during the quarter. Radnor Capital Management LLC's holdings in Meritage Homes were worth $1,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Meritage Homes by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 314,323 shares of the construction company's stock worth $48,349,000 after acquiring an additional 78,087 shares during the period. Smartleaf Asset Management LLC increased its holdings in Meritage Homes by 235.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock valued at $104,000 after purchasing an additional 475 shares during the period. New York State Common Retirement Fund increased its holdings in Meritage Homes by 4.9% during the 4th quarter. New York State Common Retirement Fund now owns 14,589 shares of the construction company's stock valued at $2,244,000 after purchasing an additional 679 shares during the period. Sei Investments Co. boosted its position in Meritage Homes by 10.2% during the 4th quarter. Sei Investments Co. now owns 47,699 shares of the construction company's stock valued at $7,337,000 after acquiring an additional 4,397 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in Meritage Homes by 84.6% during the 4th quarter. Townsquare Capital LLC now owns 3,006 shares of the construction company's stock valued at $462,000 after acquiring an additional 1,378 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

Meritage Homes Trading Down 2.0%

Shares of MTH traded down $1.31 during mid-day trading on Friday, hitting $63.93. The company had a trading volume of 863,667 shares, compared to its average volume of 880,059. The business's 50-day simple moving average is $66.25 and its 200-day simple moving average is $75.33. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. Meritage Homes Co. has a 1-year low of $59.27 and a 1-year high of $106.99. The stock has a market cap of $4.59 billion, a PE ratio of 4.89 and a beta of 1.37.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.71 by ($0.02). Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the business earned $5.06 EPS. The company's revenue for the quarter was down 8.5% on a year-over-year basis. Sell-side analysts forecast that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, June 16th. Meritage Homes's payout ratio is currently 14.06%.

Analyst Ratings Changes

MTH has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Meritage Homes from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Keefe, Bruyette & Woods dropped their price objective on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Bank of America began coverage on shares of Meritage Homes in a research note on Monday, May 5th. They issued a "buy" rating and a $82.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $97.72.

Meritage Homes Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.