Meritage Homes (MTH) Declares $0.27 Dividend
Meritage Homes said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Previously, the company paid $0.27 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.
At the current share price of $121.38 / share, the stock's dividend yield is 0.89%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.60%, the lowest has been 0.84%, and the highest has been 3.69%. The standard deviation of yields is 0.64 (n=237).
The current dividend yield is 1.11 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 694 funds or institutions reporting positions in Meritage Homes. This is an increase of 42 owner(s) or 6.44% in the last quarter. Average portfolio weight of all funds dedicated to MTH is 0.21%, an increase of 25.51%. Total shares owned by institutions increased in the last three months by 2.18% to 42,008K shares. 
The put/call ratio of MTH is 1.31, indicating a bearish outlook.
Analyst Price Forecast Suggests 21.85% Upside
As of May 11, 2023, the average one-year price target for Meritage Homes is 147.90. The forecasts range from a low of 127.26 to a high of $182.70. The average price target represents an increase of 21.85% from its latest reported closing price of 121.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Meritage Homes is 4,922MM, a decrease of 21.69%. The projected annual non-GAAP EPS is 13.67.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,710K shares representing 7.37% ownership of the company. In it's prior filing, the firm reported owning 2,673K shares, representing an increase of 1.34%. The firm increased its portfolio allocation in MTH by 20.99% over the last quarter.
Earnest Partners holds 1,462K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 1,458K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in MTH by 19.84% over the last quarter.
T. Rowe Price Investment Management holds 1,347K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 1,383K shares, representing a decrease of 2.65%. The firm increased its portfolio allocation in MTH by 15.27% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,114K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,069K shares, representing an increase of 3.97%. The firm increased its portfolio allocation in MTH by 26.17% over the last quarter.
Fisher Asset Management holds 1,102K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 1,134K shares, representing a decrease of 2.90%. The firm increased its portfolio allocation in MTH by 10.25% over the last quarter.
Meritage Homes Background Information
(This description is provided by the company.)
Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.
Key filings for this company:
This story originally appeared on Fintel.