International Assets Investment Management LLC Purchases 1,905 Shares of Meritage Homes Co. (NYSE:MTH)

International Assets Investment Management LLC increased its holdings in shares of Meritage Homes Co. (NYSE:MTH) by 17,318.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,916 shares of the construction company’s stock after purchasing an additional 1,905 shares during the period. International Assets Investment Management LLC’s holdings in Meritage Homes were worth $334,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Carmel Capital Partners LLC acquired a new position in shares of Meritage Homes during the 3rd quarter worth approximately $38,000. Blue Trust Inc. raised its position in shares of Meritage Homes by 45.7% in the fourth quarter. Blue Trust Inc. now owns 628 shares of the construction company’s stock valued at $109,000 after purchasing an additional 197 shares during the period. Planned Solutions Inc. acquired a new stake in shares of Meritage Homes during the 4th quarter worth about $144,000. GW Henssler & Associates Ltd. bought a new stake in shares of Meritage Homes during the 3rd quarter worth about $209,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Meritage Homes during the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

Meritage Homes Stock Up 2.7 %

Shares of NYSE MTH opened at $169.48 on Friday. Meritage Homes Co. has a 52 week low of $109.23 and a 52 week high of $179.68. The stock’s fifty day moving average is $159.56 and its 200 day moving average is $152.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $6.16 billion, a P/E ratio of 7.90 and a beta of 1.77.

Meritage Homes (NYSE:MTH) last issued its earnings results on Wednesday, April 24th. The construction company reported $5.06 EPS for the quarter, beating the consensus estimate of $3.54 by $1.52. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Meritage Homes had a net margin of 12.54% and a return on equity of 17.92%. Sell-side analysts forecast that Meritage Homes Co. will post 17.77 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Thursday, March 14th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.27. Meritage Homes’s dividend payout ratio (DPR) is currently 13.99%.

Insider Activity

In related news, CAO Alison Sasser sold 355 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total transaction of $54,176.55. Following the completion of the sale, the chief accounting officer now directly owns 869 shares in the company, valued at approximately $132,618.09. The sale was disclosed in a filing with the SEC, which is available through this link. In other Meritage Homes news, CAO Alison Sasser sold 355 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $152.61, for a total transaction of $54,176.55. Following the sale, the chief accounting officer now owns 869 shares of the company’s stock, valued at $132,618.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Clinton Szubinski sold 797 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $152.62, for a total value of $121,638.14. Following the completion of the transaction, the chief operating officer now owns 5,234 shares of the company’s stock, valued at $798,813.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,998 shares of company stock worth $635,171. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday. Seaport Res Ptn lowered Meritage Homes from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a report on Monday, February 26th. The Goldman Sachs Group upped their price target on shares of Meritage Homes from $151.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Wedbush reiterated an “underperform” rating and issued a $148.00 price objective on shares of Meritage Homes in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Meritage Homes has a consensus rating of “Hold” and a consensus price target of $172.67.

Meritage Homes 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.