35,950 Shares in Meritage Homes Corporation $MTH Acquired by D L Carlson Investment Group Inc.

D L Carlson Investment Group Inc. acquired a new stake in Meritage Homes Corporation (NYSE:MTH) in the second quarter, according to its most recent filing with the SEC. The fund acquired 35,950 shares of the construction company’s stock, valued at approximately $3,014,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Meritage Homes during the fourth quarter worth $63,053,000. Bank of New York Mellon Corp purchased a new position in shares of Meritage Homes in the second quarter valued at $68,873,000. Balyasny Asset Management L.P. raised its stake in shares of Meritage Homes by 58.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock valued at $95,299,000 after purchasing an additional 527,265 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Meritage Homes by 58.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after purchasing an additional 391,297 shares during the period. Finally, Sophron Capital Management L.P. purchased a new stake in Meritage Homes during the 2nd quarter worth about $17,613,000. Institutional investors own 98.44% of the company’s stock.

Analysts Set New Price Targets

MTH has been the subject of a number of research analyst reports. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. 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 research note on Friday, July 10th. Weiss Ratings upgraded shares of Meritage Homes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.25.

Meritage Homes Trading Down 4.1%

NYSE MTH opened at $71.14 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $75.17 and its two-hundred day simple moving average is $70.40. Meritage Homes Corporation has a twelve month low of $58.03 and a twelve month high of $85.38. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 5.43 and a beta of 1.36.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. Research analysts forecast that Meritage Homes Corporation will post 5.04 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 2.7%. Meritage Homes’s dividend payout ratio is currently 40.17%.

Meritage Homes 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.