Sone Capital Management LLC Purchases New Stake in Meritage Homes Corporation $MTH

Sone Capital Management LLC acquired a new position in shares of Meritage Homes Corporation (NYSE:MTH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 128,168 shares of the construction company’s stock, valued at approximately $10,747,000. Sone Capital Management LLC owned about 0.20% of Meritage Homes as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Meritage Homes by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,901,851 shares of the construction company’s stock valued at $190,943,000 after acquiring an additional 16,338 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Meritage Homes by 58.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock worth $95,299,000 after purchasing an additional 527,265 shares during the period. Goldman Sachs Group Inc. lifted its stake in Meritage Homes by 58.6% in the first 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 last quarter. Norges Bank purchased a new position in Meritage Homes in the fourth quarter valued at approximately $63,053,000. Finally, Bank of New York Mellon Corp grew its holdings in Meritage Homes by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 855,679 shares of the construction company’s stock valued at $56,304,000 after purchasing an additional 61,342 shares during the period. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Trading Up 1.2%

Shares of MTH stock opened at $72.55 on Tuesday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 5.25 and a beta of 1.36. The company’s fifty day simple moving average is $75.12 and its two-hundred day simple moving average is $70.42. Meritage Homes Corporation has a 1 year low of $58.03 and a 1 year high of $85.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

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

Meritage Homes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Meritage Homes’s payout ratio is presently 40.17%.

Analysts Set New Price Targets

A number of analysts have issued reports on MTH shares. Zacks Research raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Citigroup reiterated a “market outperform” rating on shares of Meritage Homes in a research note on Monday, July 6th. Zelman & Associates lowered Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. The Goldman Sachs Group restated a “buy” rating and issued a $93.00 price objective (up from $82.00) on shares of Meritage Homes in a research note on Friday, July 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $88.00 price objective (up from $86.00) on shares of Meritage Homes in a report on Friday, July 31st. 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.25.

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.