Meritage Homes (MTH)
Builds move-in-ready homes for entry-level and first move-up buyers across U.S. growth markets.
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Builds and sells move-in-ready, attached and detached single-family homes for entry-level and first move-up buyers across U.S. growth markets. Revenue comes primarily from home closings, while an all-spec model uses standardized plans and preselected features; title, escrow, mortgage, and insurance services support buyers.
Designs and builds attached and detached single-family homes for entry-level and first move-up buyers across growth markets in the West, Central, and East. Homebuilding revenue comes mainly from closing homes and, to a much smaller extent, selling land. A financial services segment provides title and escrow through Carefree Title, insurance brokerage through Meritage Insurance, and mortgage services through an unconsolidated joint venture.
Runs an all-spec production model: homes are started with standardized plans and preselected features, then marketed as move-in-ready inventory. Repetition supports shorter construction cycles, while energy-efficiency and home-automation features help distinguish new homes from resales. Results depend on suitable land and lots, subcontractor and material availability, permitting, construction costs, mortgage availability, interest rates, and buyer demand.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Truist Financial | Target | Target: $80 | Target: $72 |
| Sep 16, 2026 | Truist Securities | Downgrade | ||
| Jul 31, 2026 | UBS | Reiterate | Rating: —Target: $86 | Target: $88 |
| Jul 10, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $90 | Target: $93 |
| Jul 7, 2026 | Zelman | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $807.3M · Total debt $1.85B · Total assets $7.55B · Shareholders' equity $5.06B
- Revenue
- $1.47B
- Operating income
- $184.0M
- Net income
- $90.6M
HistoryDividendAnnual yield
| Institutions | 105.44% | 68.72M shares | |
|---|---|---|---|
| 415 holders · as of Jun 30, 2026 | |||
| Insiders | 2.48% | 1.62M shares | |
| 18 holders · as of May 13, 2026 | |||
| Adds to | 107.92% | ||
65.17M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 107.92%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Southeastern Asset Management, Inc.Institution | 39.81% | 25.94M | filed Aug 10, 2018 |
BlackRock, Inc.Institution | 18.76% | 12.23M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.21% | 4.05M | as of Jun 30, 2026 |
FMR LLCInstitution | 6.01% | 3.92M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.52% | 3.59M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | Alison Sasser | officer: SVP - Chief Accounting Officer | −1,273 | $62.11 |
| Feb 24, 2026 | Austin M. Woffinden | officer: EVP, Corp. Ops & Strategy | −143 | $76.80 |
| Feb 23, 2026 | Phillippe Lord | director, officer: Chief Executive Officer | −32,820 | $76.49 |
| Feb 24, 2026 | Alison Sasser | officer: SVP - Chief Accounting Officer | −151 | $76.80 |
| Feb 23, 2026 | Hilla Sferruzza | officer: EVP- Chief Financial Officer | −10,928 | $76.35 |
- D.R. Horton
Largest scale rival in affordable production housing
- Lennar
National first-time and move-up production-home rival
- PulteGroup
Broad-brand U.S. builder across first-time and move-up demand
- KB Home
Direct first-time and first move-up homebuilding rival
- Century Communities
Entry-level and move-up rival with Century Complete
- M/I Homes
Regional public builder in overlapping affordable-to-move-up bands
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Meritage Homes | $65.83 | +2.29% | $4.29B | 13.5 | 12.2 | 0.8 | −14.3% |
| D.R. Horton | $143.30 | +2.91% | $38.95B | 13.3 | 12.9 | 1.2 | +0.0% |
| Lennar | $82.27 | +5.37% | $19.39B | 14.8 | 16.6 | 0.6 | −9.0% |
| PulteGroup | $121.72 | +2.31% | $22.96B | 12.2 | 11.5 | 1.4 | −9.6% |
| KB Home | $48.59 | +1.53% | $2.93B | 11.6 | 11.4 | 0.5 | −27.3% |
| Century Communities | $63.46 | +2.92% | $1.75B | 13.6 | 13.8 | 0.4 | −7.3% |
| M/I Homes | $142.08 | +1.24% | $3.55B | 11.8 | 10.9 | 0.8 | −8.5% |
| Median | 12.7 | 12.2 | 0.7 | −8.8% |