Meritage Homes (NYSE:MTH) Price Target Raised to $69.00

Meritage Homes (NYSE:MTH) had its price target increased by JPMorgan Chase & Co. from $60.00 to $69.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Meritage Homes from $77.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday, July 28th. Bank of America decreased their target price on Meritage Homes from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Meritage Homes in a report on Wednesday, October 8th. Zelman & Associates upgraded Meritage Homes to a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Wedbush reduced their price objective on shares of Meritage Homes from $103.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Meritage Homes has an average rating of “Hold” and a consensus target price of $84.71.

Meritage Homes Price Performance

NYSE MTH opened at $65.33 on Tuesday. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 6.64 and a beta of 1.35. Meritage Homes has a 12 month low of $59.27 and a 12 month high of $98.74. The company’s 50 day moving average is $72.74 and its two-hundred day moving average is $70.54. The company has a current ratio of 1.95, a quick ratio of 2.16 and a debt-to-equity ratio of 0.35.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, October 28th. The construction company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.32). Meritage Homes had a return on equity of 10.37% and a net margin of 8.96%.The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the company earned $5.34 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Meritage Homes has set its Q4 2025 guidance at 1.510-1.700 EPS. As a group, research analysts anticipate that Meritage Homes will post 9.44 earnings per share for the current year.

Meritage Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is currently 17.48%.

Insider Activity

In other news, CEO Phillippe Lord sold 6,950 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $80.01, for a total transaction of $556,069.50. Following the completion of the transaction, the chief executive officer directly owned 221,320 shares in the company, valued at approximately $17,707,813.20. This represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Meritage Homes

A number of hedge funds have recently bought and sold shares of MTH. Lodge Hill Capital LLC purchased a new position in shares of Meritage Homes in the 3rd quarter worth $21,729,000. Public Sector Pension Investment Board lifted its holdings in shares of Meritage Homes by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 277,531 shares of the construction company’s stock valued at $20,102,000 after acquiring an additional 32,693 shares during the last quarter. Caprock Group LLC bought a new position in shares of Meritage Homes in the 3rd quarter valued at about $235,000. Alps Advisors Inc. purchased a new position in Meritage Homes in the third quarter worth about $4,731,000. Finally, Bessemer Group Inc. increased its stake in Meritage Homes by 366.8% during the third quarter. Bessemer Group Inc. now owns 1,489 shares of the construction company’s stock worth $108,000 after acquiring an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.