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

Radnor Capital Management LLC decreased its position in Meritage Homes Co. (NYSE:MTH) by 41.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other hedge funds also recently modified their holdings of the company. CWM LLC lifted its position in Meritage Homes by 15.5% in the third quarter. CWM LLC now owns 433 shares of the construction company’s stock worth $89,000 after purchasing an additional 58 shares during the period. Xponance Inc. boosted its position in shares of Meritage Homes by 2.9% during the 2nd quarter. Xponance Inc. now owns 2,288 shares of the construction company’s stock valued at $370,000 after acquiring an additional 64 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Meritage Homes by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,719 shares of the construction company’s stock valued at $558,000 after acquiring an additional 66 shares during the period. Sequoia Financial Advisors LLC raised its position in Meritage Homes by 4.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,689 shares of the construction company’s stock worth $296,000 after purchasing an additional 70 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its stake in Meritage Homes by 5.4% during the second quarter. AlphaMark Advisors LLC now owns 1,842 shares of the construction company’s stock worth $298,000 after purchasing an additional 94 shares during the period. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Trading Down 2.2 %

Shares of NYSE MTH opened at $186.62 on Thursday. 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 PE ratio of 8.64 and a beta of 1.82. The company has a 50-day moving average of $195.31 and a two-hundred day moving average of $183.02. Meritage Homes Co. has a 1-year low of $129.42 and a 1-year high of $213.98.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.29. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $5.98 EPS. As a group, equities analysts expect that Meritage Homes Co. will post 21.16 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.75 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.61%. Meritage Homes’s payout ratio is 13.58%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James upped their price objective on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and upped their target price for the stock from $205.00 to $235.00 in a report on Thursday, October 31st. Wolfe Research raised shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target for the company in a report on Wednesday, August 14th. Finally, Evercore ISI raised their price objective on shares of Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.17.

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.