Maryland State Retirement & Pension System Decreases Stake in Meritage Homes Co. (NYSE:MTH)

Maryland State Retirement & Pension System lessened its holdings in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,134 shares of the construction company’s stock after selling 228 shares during the period. Maryland State Retirement & Pension System’s holdings in Meritage Homes were worth $2,304,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Meritage Homes during the 4th quarter worth $76,297,000. Vanguard Group Inc. boosted its holdings in Meritage Homes by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,170,062 shares of the construction company’s stock valued at $510,374,000 after purchasing an additional 151,946 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Meritage Homes by 22.5% in the 4th quarter. Pacer Advisors Inc. now owns 779,549 shares of the construction company’s stock valued at $135,797,000 after buying an additional 143,440 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Meritage Homes by 26.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 432,310 shares of the construction company’s stock worth $75,308,000 after buying an additional 91,648 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Meritage Homes during the 4th quarter valued at approximately $14,663,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MTH. Wedbush reiterated an “underperform” rating and issued a $148.00 price objective on shares of Meritage Homes in a research report on Tuesday, May 21st. StockNews.com upgraded Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods increased their price target on Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $178.25.

View Our Latest Report on MTH

Meritage Homes Price Performance

Meritage Homes stock opened at $152.29 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 52 week low of $109.23 and a 52 week high of $189.96. The firm has a market capitalization of $5.53 billion, a PE ratio of 7.10 and a beta of 1.80. The firm’s 50-day simple moving average is $170.59 and its 200 day simple moving average is $165.44.

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, topping the consensus estimate of $3.54 by $1.52. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. On average, equities research analysts predict that Meritage Homes Co. will post 20.27 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.97%. Meritage Homes’s dividend payout ratio (DPR) is 13.99%.

About Meritage Homes

(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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