Rafferty Asset Management LLC Buys 4,747 Shares of Meritage Homes Co. (NYSE:MTH)

Rafferty Asset Management LLC raised its stake in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,488 shares of the construction company’s stock after acquiring an additional 4,747 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Meritage Homes worth $4,614,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its position in Meritage Homes by 91.6% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after buying an additional 98 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Meritage Homes by 157.6% in the fourth quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock valued at $41,000 after acquiring an additional 145 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Meritage Homes in the 4th quarter worth approximately $47,000. Daiwa Securities Group Inc. bought a new stake in Meritage Homes during the 4th quarter worth approximately $52,000. Finally, GAMMA Investing LLC acquired a new stake in Meritage Homes during the 4th quarter valued at $96,000. Institutional investors own 98.44% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Phillippe Lord sold 2,500 shares of Meritage Homes stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total transaction of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares in the company, valued at approximately $16,322,302.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Meritage Homes Stock Performance

MTH stock opened at $175.06 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Meritage Homes Co. has a twelve month low of $109.23 and a twelve month high of $189.96. The business’s fifty day moving average is $169.57 and its 200-day moving average is $163.77. The company has a market cap of $6.36 billion, a P/E ratio of 8.17 and a beta of 1.78.

Meritage Homes (NYSE:MTHGet Free Report) last issued its earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $1.52. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. Equities research analysts forecast that Meritage Homes Co. will post 20.27 EPS for the current year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.00 annualized dividend and a yield of 1.71%. Meritage Homes’s dividend payout ratio is presently 13.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MTH shares. Keefe, Bruyette & Woods increased their target price on Meritage Homes from $180.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wedbush reissued an “underperform” rating and issued a $148.00 price target 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 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.25.

Get Our Latest 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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