Caxton Associates LLP Has $3.07 Million Holdings in Meritage Homes Corporation $MTH

Caxton Associates LLP lifted its stake in shares of Meritage Homes Corporation (NYSE:MTH) by 27.9% in the 1st quarter, Holdings Channel reports. The fund owned 49,591 shares of the construction company’s stock after acquiring an additional 10,823 shares during the quarter. Caxton Associates LLP’s holdings in Meritage Homes were worth $3,067,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MTH. Summit Global Investments bought a new stake in shares of Meritage Homes in the first quarter valued at about $822,000. SEB Asset Management AB bought a new position in shares of Meritage Homes during the first quarter worth about $209,000. Jennison Associates LLC raised its position in Meritage Homes by 67.0% in the 1st quarter. Jennison Associates LLC now owns 21,203 shares of the construction company’s stock valued at $1,311,000 after buying an additional 8,509 shares during the last quarter. California Public Employees Retirement System raised its position in Meritage Homes by 7.1% in the 1st quarter. California Public Employees Retirement System now owns 119,408 shares of the construction company’s stock valued at $7,384,000 after buying an additional 7,935 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Meritage Homes by 43.9% in the 1st quarter. Assetmark Inc. now owns 774 shares of the construction company’s stock valued at $48,000 after acquiring an additional 236 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Zelman & Associates downgraded shares of Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price objective on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. 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 report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.00.

Meritage Homes Price Performance

NYSE:MTH opened at $72.83 on Friday. Meritage Homes Corporation has a one year low of $58.03 and a one year high of $85.38. The company has a market cap of $4.86 billion, a P/E ratio of 13.36, a P/E/G ratio of 3.17 and a beta of 1.35. The firm’s fifty day moving average price is $72.85 and its two-hundred day moving average price is $70.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.96.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.12). Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The firm’s revenue for the quarter was down 17.5% compared to the same quarter last year. Equities analysts expect that Meritage Homes Corporation will post 5 earnings per share for the current year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given 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 is currently 35.23%.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 1,273 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total transaction of $79,066.03. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by corporate insiders.

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.