Level Four Advisory Services LLC acquired a new stake in Meritage Homes Co. (NYSE:MTH – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,623 shares of the construction company’s stock, valued at approximately $423,000.
Several other hedge funds have also recently modified their holdings of MTH. Capital CS Group LLC purchased a new stake in shares of Meritage Homes during the first quarter valued at approximately $445,000. Jump Financial LLC purchased a new position in shares of Meritage Homes in the 1st quarter worth about $1,878,000. Arizona State Retirement System grew its position in Meritage Homes by 2.7% during the first quarter. Arizona State Retirement System now owns 10,596 shares of the construction company’s stock valued at $1,237,000 after buying an additional 278 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Meritage Homes during the first quarter worth about $1,227,000. Finally, Moran Wealth Management LLC bought a new stake in Meritage Homes in the fourth quarter worth about $4,459,000. Institutional investors own 99.48% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on MTH shares. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Meritage Homes in a report on Wednesday, June 14th. UBS Group increased their price target on Meritage Homes from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Wedbush boosted their price objective on Meritage Homes from $137.00 to $141.00 in a research note on Friday, July 7th. StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Meritage Homes in a research report on Wednesday, May 31st. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.33.
Meritage Homes Price Performance
Shares of NYSE:MTH opened at $128.92 on Monday. The company has a 50 day moving average of $140.30 and a 200 day moving average of $128.69. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $4.74 billion, a P/E ratio of 5.67 and a beta of 1.65. Meritage Homes Co. has a 12 month low of $65.40 and a 12 month high of $152.55.
Meritage Homes (NYSE:MTH – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $5.02 EPS for the quarter, beating the consensus estimate of $3.49 by $1.53. Meritage Homes had a net margin of 13.10% and a return on equity of 21.15%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Meritage Homes Co. will post 19.45 EPS for the current fiscal year.
Meritage Homes Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.27 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.84%. Meritage Homes’s payout ratio is currently 4.75%.
In related news, CAO Alison Sasser sold 481 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $150.00, for a total value of $72,150.00. Following the transaction, the chief accounting officer now directly owns 6,547 shares in the company, valued at $982,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meritage Homes news, CAO Alison Sasser sold 481 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $150.00, for a total value of $72,150.00. Following the completion of the transaction, the chief accounting officer now owns 6,547 shares of the company’s stock, valued at approximately $982,050. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phillippe Lord sold 1,350 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the sale, the chief executive officer now owns 43,091 shares in the company, valued at approximately $6,421,851.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,831 shares of company stock worth $721,841. 2.00% of the stock is currently owned by insiders.
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 first-time and first move-up buyers in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee.
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