Meritage Homes Co. (NYSE:MTH – Get Free Report) announced a quarterly dividend on Thursday, August 29th, Wall Street Journal reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.75 per share by the construction company on Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, September 16th.
Meritage Homes has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Meritage Homes to earn $21.98 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 13.6%.
Meritage Homes Trading Up 4.1 %
Shares of NYSE MTH opened at $203.55 on Friday. Meritage Homes has a 1-year low of $109.23 and a 1-year high of $210.58. The business has a fifty day moving average price of $188.34 and a 200 day moving average price of $173.64. The stock has a market capitalization of $7.39 billion, a P/E ratio of 9.49 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93.
Insider Buying and Selling
In other Meritage Homes news, CFO Hilla Sferruzza sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,570 shares of the company’s stock, valued at approximately $9,136,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meritage Homes news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total transaction of $512,500.00. Following the sale, the chief financial officer now directly owns 44,570 shares of the company’s stock, valued at approximately $9,136,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillippe Lord sold 10,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $200.35, for a total value of $2,003,500.00. Following the completion of the transaction, the chief executive officer now directly owns 90,266 shares of the company’s stock, valued at approximately $18,084,793.10. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $3,111,080 over the last quarter. 2.00% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on MTH shares. Keefe, Bruyette & Woods lifted their price target on shares of Meritage Homes from $195.00 to $210.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Evercore ISI upped their target price on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Raymond James raised their price target on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on shares of Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Wolfe Research upgraded shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price for the company in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.00.
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.
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