Meritage Homes Co. (NYSE:MTH – Get Free Report) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.43 per share by the construction company on Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 17th. This is a 14.7% increase from Meritage Homes’s previous quarterly dividend of $0.38.
Meritage Homes has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meritage Homes to earn $10.77 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 16.0%.
Meritage Homes Trading Up 1.5 %
NYSE MTH opened at $70.48 on Friday. The firm has a 50 day simple moving average of $76.00 and a 200-day simple moving average of $88.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61. Meritage Homes has a one year low of $68.93 and a one year high of $106.99. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 5.39 and a beta of 1.92.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Seaport Res Ptn raised shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $98.50 price objective (down previously from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. Wedbush reiterated a “neutral” rating and issued a $103.00 price target on shares of Meritage Homes in a research note on Tuesday, February 4th. The Goldman Sachs Group decreased their price target on shares of Meritage Homes from $117.50 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Meritage Homes currently has an average rating of “Hold” and a consensus price target of $106.25.
Read Our Latest Stock Report on MTH
Insider Transactions at Meritage Homes
In other news, COO Clinton Szubinski sold 595 shares of Meritage Homes stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $73.29, for a total value of $43,607.55. Following the transaction, the chief operating officer now directly owns 30,547 shares of the company’s stock, valued at $2,238,789.63. The trade was a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alison Sasser sold 676 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28. Following the completion of the sale, the chief accounting officer now 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 quarter, insiders sold 1,683 shares of company stock worth $122,547. 2.00% of the stock is currently owned by insiders.
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.
Featured Stories
- Five stocks we like better than Meritage Homes
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
- Ride Out The Recession With These Dividend Kings
- Why Costco Stock Is Poised to Hit $1,000 Again Soon
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.