Riverview Capital Advisers LLC Takes $1.56 Million Position in Meritage Homes Corporation $MTH

Riverview Capital Advisers LLC acquired 23,225 shares of Meritage Homes Corporation, valued at $1.56 million, during the 2nd quarter. Several hedge funds have also increased their positions in Meritage Homes. Analysts have mixed ratings on the stock, with a consensus price target of $84.71. Meritage Homes reported lower-than-expected earnings for the last quarter and announced a quarterly dividend of $0.43 per share.

Riverview Capital Advisers LLC acquired a new stake in Meritage Homes Corporation (NYSE:MTH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 23,225 shares of the construction company's stock, valued at approximately $1,555,000.

Time to Load Up on Home Builders?

Several other hedge funds have also recently bought and sold shares of MTH. Vanguard Group Inc. grew its position in Meritage Homes by 96.3% in the 1st quarter. Vanguard Group Inc. now owns 7,999,889 shares of the construction company's stock valued at $567,032,000 after acquiring an additional 3,925,148 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Meritage Homes by 93.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,926,900 shares of the construction company's stock valued at $207,456,000 after purchasing an additional 1,417,024 shares during the period. Norges Bank acquired a new position in shares of Meritage Homes in the second quarter valued at approximately $75,148,000. Long Pond Capital LP grew its holdings in shares of Meritage Homes by 592.7% in the first quarter. Long Pond Capital LP now owns 1,125,995 shares of the construction company's stock valued at $79,811,000 after purchasing an additional 963,438 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Meritage Homes by 278.1% during the 1st quarter. Wellington Management Group LLP now owns 1,071,802 shares of the construction company's stock worth $75,969,000 after buying an additional 788,323 shares during the period. Institutional investors and hedge funds own 98.44% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group set a $101.00 price target on shares of Meritage Homes and gave the company a "buy" rating in a research report on Thursday, October 30th. Wall Street Zen cut Meritage Homes from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. Evercore ISI decreased their target price 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. Weiss Ratings restated a "hold (c)" rating on shares of Meritage Homes in a report on Tuesday, November 25th. Finally, Zacks Research raised Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $84.71.

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View Our Latest Stock Report on MTH

Meritage Homes Price Performance

Meritage Homes stock opened at $72.95 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. The company has a fifty day simple moving average of $69.66 and a 200-day simple moving average of $70.68. The stock has a market cap of $5.14 billion, a P/E ratio of 7.41 and a beta of 1.35. Meritage Homes Corporation has a 12-month low of $59.27 and a 12-month high of $96.17.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The construction company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $1.71 by ($0.32). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Meritage Homes had a net margin of 8.96% and a return on equity of 10.37%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.34 earnings per share. Meritage Homes has set its Q4 2025 guidance at 1.510-1.700 EPS. Equities analysts expect that Meritage Homes Corporation will post 9.44 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.72 annualized dividend and a yield of 2.4%. Meritage Homes's payout ratio is presently 17.48%.

About Meritage Homes

(Free Report)

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.

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