Radnor Capital Management LLC Has $669,000 Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Radnor Capital Management LLC trimmed its holdings in shares of Meritage Homes Co. (NYSE:MTH) by 41.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,260 shares of the construction company’s stock after selling 2,270 shares during the period. Radnor Capital Management LLC’s holdings in Meritage Homes were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of Meritage Homes in the 3rd quarter valued at about $28,000. Headlands Technologies LLC increased its stake in Meritage Homes by 1,033.3% in the 2nd quarter. Headlands Technologies LLC now owns 272 shares of the construction company’s stock valued at $44,000 after buying an additional 248 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Meritage Homes in the 2nd quarter worth approximately $61,000. Picton Mahoney Asset Management acquired a new stake in shares of Meritage Homes during the 2nd quarter valued at $64,000. Finally, CWM LLC grew its holdings in shares of Meritage Homes by 15.5% during the 3rd quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after acquiring an additional 58 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTH has been the subject of a number of research reports. Raymond James lifted their price objective on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wedbush upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $160.00 to $195.00 in a report on Tuesday, October 15th. Evercore ISI increased their price objective on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating and lifted their target price for the company from $205.00 to $235.00 in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Meritage Homes currently has a consensus rating of “Moderate Buy” and an average target price of $218.17.

Meritage Homes Price Performance

NYSE MTH opened at $186.62 on Thursday. Meritage Homes Co. has a 1 year low of $129.42 and a 1 year high of $213.98. The company has a fifty day simple moving average of $195.31 and a 200 day simple moving average of $183.02. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The company has a market cap of $6.75 billion, a P/E ratio of 8.64 and a beta of 1.82.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $5.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.29. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $5.98 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Meritage Homes Co. will post 21.16 EPS for the current year.

Meritage Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. Meritage Homes’s dividend payout ratio (DPR) is presently 13.58%.

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.