Radnor Capital Management LLC Raises Holdings in Meritage Homes Co. (NYSE:MTH)

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

A number of other hedge funds have also added to or reduced their stakes in MTH. Pinnacle Holdings LLC acquired a new position in shares of Meritage Homes in the fourth quarter valued at approximately $31,000. Allworth Financial LP raised its position in shares of Meritage Homes by 545.5% in the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company's stock valued at $33,000 after buying an additional 180 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Meritage Homes by 77.7% during the 1st quarter. Versant Capital Management Inc now owns 606 shares of the construction company's stock worth $43,000 after acquiring an additional 265 shares during the period. Parallel Advisors LLC boosted its position in shares of Meritage Homes by 219.3% during the 1st quarter. Parallel Advisors LLC now owns 827 shares of the construction company's stock worth $59,000 after acquiring an additional 568 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Meritage Homes in the fourth quarter valued at approximately $92,000. Institutional investors own 98.44% of the company's stock.

Meritage Homes Stock Up 3.8%

Shares of MTH stock traded up $2.47 on Tuesday, hitting $67.75. The stock had a trading volume of 1,110,685 shares, compared to its average volume of 881,717. Meritage Homes Co. has a 12-month low of $59.27 and a 12-month high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. The business has a 50 day moving average of $66.14 and a 200 day moving average of $75.09. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 5.18 and a beta of 1.37.

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

Meritage Homes Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, June 16th. Meritage Homes's dividend payout ratio (DPR) is currently 14.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Meritage Homes from a "hold" rating to a "sell" rating in a report on Monday, March 24th. JPMorgan Chase & Co. cut their target price on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Bank of America started coverage on shares of Meritage Homes in a research note on Monday, May 5th. They set a "buy" rating and a $82.00 target price for the company. UBS Group set a $107.00 target price on Meritage Homes in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Meritage Homes has a consensus rating of "Hold" and a consensus price target of $97.72.

Meritage Homes Company 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.