Crossmark Global Holdings Inc. Has $588,000 Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Crossmark Global Holdings Inc. grew its stake in Meritage Homes Co. (NYSE:MTH) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,867 shares of the construction company’s stock after purchasing an additional 264 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Meritage Homes were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MTH. US Bancorp DE boosted its holdings in Meritage Homes by 22.8% during the first quarter. US Bancorp DE now owns 12,874 shares of the construction company’s stock worth $2,259,000 after buying an additional 2,392 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Meritage Homes by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 7,347 shares of the construction company’s stock valued at $1,289,000 after purchasing an additional 498 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Meritage Homes by 11.6% in the first quarter. Orion Portfolio Solutions LLC now owns 6,898 shares of the construction company’s stock valued at $1,210,000 after buying an additional 718 shares during the period. Blair William & Co. IL bought a new stake in shares of Meritage Homes during the first quarter worth $215,000. Finally, Bahl & Gaynor Inc. bought a new stake in Meritage Homes in the 1st quarter valued at $10,486,000. 98.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MTH shares. Wolfe Research raised Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target on the stock in a research note on Wednesday, August 14th. Raymond James downgraded Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $205.00 to $235.00 in a report on Thursday, October 31st. Wedbush upgraded shares of 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 research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Meritage Homes from $210.00 to $198.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $218.17.

Meritage Homes Stock Down 1.0 %

Shares of MTH stock opened at $179.41 on Friday. Meritage Homes Co. has a 52-week low of $137.70 and a 52-week high of $213.98. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 8.12 and a beta of 1.82. The firm’s 50-day moving average is $193.78 and its 200-day moving average is $183.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $5.98 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Meritage Homes Co. will post 21.22 EPS for the current year.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given 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 yield of 1.67%. Meritage Homes’s dividend payout ratio (DPR) is 13.58%.

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.