Meritage Homes (NYSE:MTH) Given New $69.00 Price Target at JPMorgan Chase & Co.

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

MTH has been the subject of several other reports. Evercore ISI cut their price objective on Meritage Homes from $82.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Wedbush cut their price objective on Meritage Homes from $103.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Zacks Research upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods cut their price objective on Meritage Homes from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Monday, July 28th. Finally, UBS Group set a $101.00 price objective on Meritage Homes and gave the stock a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Meritage Homes presently has an average rating of “Hold” and a consensus price target of $84.71.

Meritage Homes Price Performance

Shares of NYSE:MTH opened at $65.32 on Tuesday. 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 has a 1 year low of $59.27 and a 1 year high of $98.74. The business has a fifty day simple moving average of $73.21 and a 200 day simple moving average of $70.60. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 6.64 and a beta of 1.42.

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 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 analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $5.34 earnings per share. Meritage Homes’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, sell-side analysts predict that Meritage Homes will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 2.6%. Meritage Homes’s payout ratio is presently 17.48%.

Insider Activity at Meritage Homes

In other 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 value of $556,069.50. Following the transaction, the chief executive officer directly owned 221,320 shares in the company, valued at approximately $17,707,813.20. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Meritage Homes

A number of institutional investors have recently made changes to their positions in MTH. Cambridge Investment Research Advisors Inc. grew its position in Meritage Homes by 151.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,202 shares of the construction company’s stock worth $440,000 after buying an additional 3,731 shares in the last quarter. Amalgamated Bank raised its stake in shares of Meritage Homes by 94.4% in the first quarter. Amalgamated Bank now owns 20,623 shares of the construction company’s stock valued at $1,462,000 after acquiring an additional 10,012 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Meritage Homes by 46.7% in the first quarter. Teacher Retirement System of Texas now owns 34,919 shares of the construction company’s stock valued at $2,475,000 after acquiring an additional 11,117 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Meritage Homes by 105.8% in the first quarter. Principal Financial Group Inc. now owns 395,654 shares of the construction company’s stock valued at $28,044,000 after acquiring an additional 203,420 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Meritage Homes by 75.0% in the first quarter. Bank of New York Mellon Corp now owns 710,281 shares of the construction company’s stock valued at $50,345,000 after acquiring an additional 304,427 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

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.