Meritage Homes Corporation $MTH Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in Meritage Homes Corporation (NYSE:MTH) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 309,707 shares of the construction company’s stock after acquiring an additional 13,457 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of Meritage Homes worth $20,741,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MQS Management LLC acquired a new stake in Meritage Homes in the 2nd quarter valued at approximately $746,000. State of New Jersey Common Pension Fund D lifted its stake in Meritage Homes by 9.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 29,269 shares of the construction company’s stock worth $1,960,000 after purchasing an additional 2,501 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Meritage Homes by 181.1% during the second quarter. First Citizens Bank & Trust Co. now owns 8,766 shares of the construction company’s stock worth $587,000 after buying an additional 5,647 shares during the period. Ethic Inc. grew its stake in shares of Meritage Homes by 9.1% in the second quarter. Ethic Inc. now owns 6,249 shares of the construction company’s stock valued at $417,000 after buying an additional 522 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Meritage Homes in the second quarter valued at $596,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Insiders Place Their Bets

In other Meritage Homes news, CEO Phillippe Lord sold 6,950 shares of Meritage Homes stock in a transaction dated 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 sale, the chief executive officer directly owned 221,320 shares of the company’s stock, valued at $17,707,813.20. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTH. 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. Evercore ISI cut their price target on shares of Meritage Homes from $82.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Wedbush lowered their price objective on shares of Meritage Homes from $103.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Meritage Homes from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on shares of Meritage Homes from $77.00 to $75.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.71.

Meritage Homes Stock Down 0.7%

Shares of NYSE:MTH opened at $65.32 on Wednesday. The firm’s 50 day moving average price is $73.21 and its 200 day moving average price is $70.60. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 6.64 and a beta of 1.42. Meritage Homes Corporation has a fifty-two week low of $59.27 and a fifty-two week high of $98.74. The company has a quick ratio of 2.16, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Tuesday, October 28th. The construction company reported $1.39 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $5.34 EPS. The company’s revenue 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, equities research analysts predict that Meritage Homes Corporation will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

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

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.