Radnor Capital Management LLC Sells 15,260 Shares of Meritage Homes Corporation $MTH

Radnor Capital Management LLC reduced its stake in Meritage Homes Corporation (NYSE:MTH) by 76.6% during the 3rd quarter, Holdings Channel reports. The firm owned 4,668 shares of the construction company’s stock after selling 15,260 shares during the period. Radnor Capital Management LLC’s holdings in Meritage Homes were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MTH. Assenagon Asset Management S.A. increased its holdings in Meritage Homes by 0.4% in the third quarter. Assenagon Asset Management S.A. now owns 47,402 shares of the construction company’s stock valued at $2,979,000 after purchasing an additional 167 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Meritage Homes by 2.0% during the first quarter. Glenmede Trust Co. NA now owns 9,223 shares of the construction company’s stock worth $570,000 after buying an additional 179 shares during the last quarter. Assetmark Inc. boosted its holdings in Meritage Homes by 43.9% during the first quarter. Assetmark Inc. now owns 774 shares of the construction company’s stock worth $48,000 after buying an additional 236 shares during the last quarter. Essential Partners LLC boosted its holdings in Meritage Homes by 163.8% during the first quarter. Essential Partners LLC now owns 401 shares of the construction company’s stock worth $25,000 after buying an additional 249 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Meritage Homes by 9.1% during the first quarter. Sequoia Financial Advisors LLC now owns 3,772 shares of the construction company’s stock worth $233,000 after buying an additional 316 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MTH. Zacks Research lowered Meritage Homes from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 8th. Truist Financial set a $72.00 price objective on shares of Meritage Homes and gave the company a “hold” rating in a report on Wednesday, September 16th. The Goldman Sachs Group set a $82.00 target price on shares of Meritage Homes and gave the company a “buy” rating in a research note on Monday, October 12th. UBS Group reaffirmed a “buy” rating and issued a $88.00 target price (up from $86.00) on shares of Meritage Homes in a research note on Friday, July 31st. Finally, Melius Research assumed coverage on shares of Meritage Homes in a report on Tuesday, October 6th. They issued a “sell” rating and a $59.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.56.

Meritage Homes Stock Performance

Shares of MTH stock opened at $64.22 on Monday. The company has a fifty day moving average price of $65.04 and a two-hundred day moving average price of $68.76. Meritage Homes Corporation has a one year low of $56.66 and a one year high of $85.38. The stock has a market cap of $4.19 billion, a P/E ratio of 13.44, a P/E/G ratio of 4.81 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.12. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Meritage Homes had a net margin of 6.11% and a return on equity of 7.13%. Meritage Homes’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.04 EPS. As a group, equities analysts predict that Meritage Homes Corporation will post 4.93 EPS for the current year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 15th. Meritage Homes’s dividend payout ratio (DPR) is 40.17%.

Meritage Homes Company Profile

Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time homebuyers, offering homes in a range of floor plans and communities designed around affordability, energy efficiency and modern features.

Meritage Homes sells homes through its own communities and provides related services, including land acquisition and development, home design, construction, sales and customer support.