Meritage Homes (NYSE:MTH) Sets New 1-Year Low - Here's Why

Meritage Homes Co. (NYSE:MTH - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $64.86 and last traded at $67.37, with a volume of 207580 shares traded. The stock had previously closed at $69.14.

Wall Street Analyst Weigh In

MTH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on Meritage Homes from $97.00 to $90.00 and set a "market perform" rating for the company in a research note on Thursday, February 6th. UBS Group lowered their price target on shares of Meritage Homes from $126.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Wedbush reaffirmed a "neutral" rating and issued a $103.00 price objective on shares of Meritage Homes in a research report on Tuesday, February 4th. The Goldman Sachs Group decreased their target price on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $98.50 price target (down from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Meritage Homes currently has a consensus rating of "Hold" and a consensus target price of $106.25.

Meritage Homes Stock Up 1.0 %

The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 4.88 and a beta of 1.69. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The company's 50 day moving average price is $71.67 and its 200 day moving average price is $83.43.

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Meritage Homes (NYSE:MTH - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. As a group, research analysts forecast that Meritage Homes Co. will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Meritage Homes's previous quarterly dividend of $0.38. Meritage Homes's dividend payout ratio is 13.16%.

Insiders Place Their Bets

In other Meritage Homes news, COO Clinton Szubinski sold 595 shares of Meritage Homes stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total transaction of $43,607.55. Following the completion of the transaction, the chief operating officer now owns 30,547 shares in the company, valued at approximately $2,238,789.63. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Alison Sasser sold 676 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total value of $48,692.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,933 shares of the company's stock, valued at approximately $427,353.99. This trade represents a 10.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,683 shares of company stock valued at $122,547. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Pinnacle Holdings LLC acquired a new stake in shares of Meritage Homes during the 4th quarter worth approximately $31,000. Allworth Financial LP grew its position in Meritage Homes by 545.5% during the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock valued at $33,000 after buying an additional 180 shares during the period. Venturi Wealth Management LLC purchased a new position in Meritage Homes in the fourth quarter valued at $92,000. Versant Capital Management Inc raised its position in shares of Meritage Homes by 77.7% in the first quarter. Versant Capital Management Inc now owns 606 shares of the construction company's stock worth $43,000 after acquiring an additional 265 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Meritage Homes by 235.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after acquiring an additional 475 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

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.