Meritage Homes Co. (NYSE:MTH) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC lowered its stake in shares of Meritage Homes Co. (NYSE:MTH) by 19.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,290 shares of the construction company’s stock after selling 1,020 shares during the quarter. Radnor Capital Management LLC’s holdings in Meritage Homes were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in Meritage Homes by 91.6% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock worth $36,000 after acquiring an additional 98 shares in the last quarter. Parallel Advisors LLC increased its holdings in Meritage Homes by 157.6% in the fourth quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock valued at $41,000 after buying an additional 145 shares during the last quarter. Principal Securities Inc. acquired a new stake in Meritage Homes during the fourth quarter valued at approximately $47,000. Daiwa Securities Group Inc. bought a new position in Meritage Homes during the 4th quarter worth approximately $52,000. Finally, GAMMA Investing LLC acquired a new position in shares of Meritage Homes in the 4th quarter worth approximately $96,000. Institutional investors own 98.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wedbush reissued an “underperform” rating and set a $148.00 price target on shares of Meritage Homes in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods lifted their price target on shares of Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Zelman & Associates raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. Finally, StockNews.com raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Meritage Homes has a consensus rating of “Hold” and a consensus target price of $178.25.

Meritage Homes Stock Down 1.6 %

Meritage Homes stock opened at $160.22 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. Meritage Homes Co. has a one year low of $109.23 and a one year high of $189.96. The company has a 50-day simple moving average of $169.93 and a 200-day simple moving average of $165.78. The firm has a market capitalization of $5.82 billion, a P/E ratio of 7.47 and a beta of 1.78.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, April 24th. The construction company reported $5.06 EPS for the quarter, topping the consensus estimate of $3.54 by $1.52. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. As a group, equities analysts expect that Meritage Homes Co. will post 20.27 earnings per share for the current year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, June 14th. Meritage Homes’s payout ratio is currently 13.99%.

About Meritage Homes

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.