Meritage Homes Corporation $MTH Stock Holdings Increased by SummitTX Capital L.P.

SummitTX Capital L.P. lifted its holdings in Meritage Homes Corporation (NYSE:MTH) by 16.1% in the first quarter, HoldingsChannel reports. The firm owned 471,614 shares of the construction company’s stock after purchasing an additional 65,540 shares during the quarter. Meritage Homes accounts for 0.9% of SummitTX Capital L.P.’s portfolio, making the stock its 8th largest position. SummitTX Capital L.P.’s holdings in Meritage Homes were worth $29,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Meritage Homes during the fourth quarter valued at $63,053,000. Balyasny Asset Management L.P. grew its stake 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 buying an additional 527,265 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Meritage Homes by 58.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock worth $75,051,000 after buying an additional 391,297 shares during the last quarter. Sophron Capital Management L.P. bought a new stake in shares of Meritage Homes in the 2nd quarter worth about $17,613,000. Finally, Millennium Management LLC raised its position in shares of Meritage Homes by 49.6% during the 4th quarter. Millennium Management LLC now owns 792,731 shares of the construction company’s stock valued at $52,162,000 after buying an additional 262,928 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Stock Performance

Shares of NYSE:MTH opened at $72.83 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36. Meritage Homes Corporation has a 12 month low of $58.03 and a 12 month high of $85.38. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.23 and a beta of 1.35. The firm’s 50-day moving average is $72.85 and its 200 day moving average is $70.44.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid 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 dividend yield of 2.6%. Meritage Homes’s dividend payout ratio is currently 35.23%.

Analysts Set New Price Targets

MTH has been the subject of several recent research reports. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Saturday. Bank of America decreased their price objective on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Zelman & Associates lowered Meritage Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their target price on Meritage Homes from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Finally, Truist Financial set a $80.00 target price on Meritage Homes and gave the company a “buy” rating in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.00.

Insider Buying and Selling at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 1,273 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total value of $79,066.03. Following the transaction, the chief accounting officer owned 7,634 shares of the company’s stock, valued at $474,147.74. This represents a 14.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

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.