DLD Asset Management LP Invests $1.85 Million in Meritage Homes Corporation $MTH

DLD Asset Management LP acquired a new stake in shares of Meritage Homes Corporation (NYSE:MTH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 25,500 shares of the construction company’s stock, valued at approximately $1,847,000.

Other hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in 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 purchasing an additional 527,265 shares in the last quarter. Norges Bank acquired a new stake in shares of Meritage Homes in the second quarter valued at approximately $75,148,000. Goldman Sachs Group Inc. increased its holdings in shares of 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 valued at $75,051,000 after purchasing an additional 391,297 shares during the last quarter. Groupama Asset Managment lifted its position in Meritage Homes by 100.0% during the second quarter. Groupama Asset Managment now owns 1,000,000 shares of the construction company’s stock worth $66,970,000 after buying an additional 500,000 shares in the last quarter. Finally, Dendur Capital LP lifted its position in Meritage Homes by 55.5% during the second quarter. Dendur Capital LP now owns 876,000 shares of the construction company’s stock worth $58,666,000 after buying an additional 312,500 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Analysts Set New Price Targets

MTH has been the subject of several analyst reports. Citizens Jmp assumed coverage on Meritage Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $90.00 target price for the company. Bank of America reiterated a “neutral” rating and set a $82.00 price target (up from $75.00) on shares of Meritage Homes in a report on Friday, January 16th. Zacks Research cut shares of Meritage Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $90.00 price objective on shares of Meritage Homes in a report on Tuesday, January 13th. Finally, Evercore set a $77.00 target price on shares of Meritage Homes and gave the stock an “in-line” rating in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Meritage Homes presently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

Insider Buying and Selling at Meritage Homes

In related news, EVP Javier Feliciano sold 3,580 shares of Meritage Homes stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $76.24, for a total value of $272,939.20. Following the completion of the transaction, the executive vice president owned 44,935 shares in the company, valued at approximately $3,425,844.40. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phillippe Lord sold 32,820 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $76.49, for a total transaction of $2,510,401.80. Following the completion of the transaction, the chief executive officer directly owned 260,389 shares of the company’s stock, valued at $19,917,154.61. This represents a 11.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,622 shares of company stock worth $3,640,273 over the last three months. Insiders own 2.20% of the company’s stock.

Meritage Homes Price Performance

MTH stock opened at $67.69 on Monday. The business has a fifty day moving average of $73.41 and a two-hundred day moving average of $72.33. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. Meritage Homes Corporation has a 52-week low of $59.27 and a 52-week high of $84.74.

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

Meritage Homes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.8%. This is a boost from Meritage Homes’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, March 17th. Meritage Homes’s payout ratio is 27.22%.

Meritage Homes Company Profile

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.