Orion Portfolio Solutions LLC Purchases 1,800 Shares of Meritage Homes Co. (NYSE:MTH)

Orion Portfolio Solutions LLC increased its position in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,180 shares of the construction company’s stock after purchasing an additional 1,800 shares during the period. Orion Portfolio Solutions LLC’s holdings in Meritage Homes were worth $1,051,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. AXS Investments LLC lifted its stake in Meritage Homes by 49.1% during the fourth quarter. AXS Investments LLC now owns 1,610 shares of the construction company’s stock worth $280,000 after purchasing an additional 530 shares during the period. US Bancorp DE lifted its position in shares of Meritage Homes by 140.2% during the 4th quarter. US Bancorp DE now owns 10,482 shares of the construction company’s stock worth $1,826,000 after buying an additional 6,119 shares during the period. Franklin Resources Inc. boosted its stake in Meritage Homes by 60.4% in the 4th quarter. Franklin Resources Inc. now owns 149,933 shares of the construction company’s stock valued at $26,118,000 after buying an additional 56,468 shares in the last quarter. Renaissance Group LLC grew its position in Meritage Homes by 6.3% in the fourth quarter. Renaissance Group LLC now owns 16,416 shares of the construction company’s stock valued at $2,863,000 after acquiring an additional 966 shares during the period. Finally, Quest Partners LLC acquired a new position in Meritage Homes during the fourth quarter worth $663,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meritage Homes

In related news, CEO Phillippe Lord sold 2,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total value of $406,975.00. Following the transaction, the chief executive officer now directly owns 100,266 shares in the company, valued at $16,322,302.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Meritage Homes Price Performance

MTH opened at $177.42 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. The company’s 50 day simple moving average is $169.38 and its 200-day simple moving average is $163.39. Meritage Homes Co. has a one year low of $109.23 and a one year high of $189.96. The stock has a market capitalization of $6.44 billion, a P/E ratio of 8.28 and a beta of 1.78.

Meritage Homes (NYSE:MTHGet Free Report) last released 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. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sell-side analysts anticipate that Meritage Homes Co. will post 20.27 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 14th. Meritage Homes’s dividend payout ratio (DPR) is presently 13.99%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MTH shares. Keefe, Bruyette & Woods boosted their target price on shares of Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. StockNews.com raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Wedbush reissued an “underperform” rating and issued a $148.00 target price on shares of Meritage Homes in a report on Tuesday, May 21st. Finally, Zelman & Associates upgraded Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $178.25.

Read Our Latest Stock Analysis on MTH

Meritage Homes Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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