GSA Capital Partners LLP Takes $575,000 Position in Meritage Homes Corporation $MTH

GSA Capital Partners LLP bought a new stake in Meritage Homes Corporation (NYSE:MTH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,943 shares of the construction company’s stock, valued at approximately $575,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Meritage Homes by 134.3% in the 1st quarter. Royal Bank of Canada now owns 38,658 shares of the construction company’s stock valued at $2,740,000 after acquiring an additional 22,162 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Meritage Homes by 51.7% in the first quarter. AQR Capital Management LLC now owns 12,937 shares of the construction company’s stock valued at $917,000 after purchasing an additional 4,407 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 worth $75,051,000 after purchasing an additional 391,297 shares during the period. Empowered Funds LLC lifted its position in Meritage Homes by 111.0% in the first quarter. Empowered Funds LLC now owns 32,971 shares of the construction company’s stock worth $2,337,000 after purchasing an additional 17,343 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Meritage Homes by 102.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,150 shares of the construction company’s stock worth $22,621,000 after buying an additional 161,806 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Stock Performance

NYSE:MTH opened at $76.83 on Tuesday. The stock has a market capitalization of $5.13 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.38 and a beta of 1.48. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.35. Meritage Homes Corporation has a 1 year low of $59.27 and a 1 year high of $84.74. The firm has a 50 day moving average of $72.38 and a 200-day moving average of $72.50.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. Meritage Homes had a return on equity of 9.28% and a net margin of 7.73%.The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm posted $4.72 EPS. The business’s revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Meritage Homes Corporation will post 9.44 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.48 dividend. This is a positive change from Meritage Homes’s previous quarterly dividend of $0.43. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, March 17th. Meritage Homes’s dividend payout ratio (DPR) is presently 27.22%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Meritage Homes in a report on Tuesday, January 13th. Wall Street Zen lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Citizens Jmp initiated coverage on Meritage Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $90.00 price objective on the stock. Zacks Research lowered Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 10th. Finally, Citigroup began coverage on Meritage Homes in a research report on Wednesday, January 7th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.63.

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.