Aristides Capital LLC Buys New Position in Meritage Homes Co. (NYSE:MTH)

Aristides Capital LLC purchased a new position in Meritage Homes Co. (NYSE:MTHFree Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,450 shares of the construction company’s stock, valued at approximately $235,000.

Other hedge funds also recently made changes to their positions in the company. Earnest Partners LLC grew its position in shares of Meritage Homes by 2.5% during the second quarter. Earnest Partners LLC now owns 718,607 shares of the construction company’s stock worth $116,307,000 after buying an additional 17,843 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Meritage Homes by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 523,332 shares of the construction company’s stock worth $91,164,000 after acquiring an additional 26,682 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Meritage Homes by 13.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 490,660 shares of the construction company’s stock worth $86,091,000 after acquiring an additional 58,350 shares in the last quarter. Millennium Management LLC increased its position in shares of Meritage Homes by 0.8% in the 2nd quarter. Millennium Management LLC now owns 315,931 shares of the construction company’s stock worth $51,133,000 after purchasing an additional 2,460 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Meritage Homes by 5.0% in the 2nd quarter. LSV Asset Management now owns 227,300 shares of the construction company’s stock valued at $36,789,000 after purchasing an additional 10,900 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Meritage Homes Stock Up 0.7 %

Shares of Meritage Homes stock opened at $205.07 on Tuesday. Meritage Homes Co. has a 1-year low of $109.23 and a 1-year high of $213.98. The company has a market capitalization of $7.45 billion, a P/E ratio of 9.56 and a beta of 1.80. The business’s fifty day moving average price is $194.12 and its two-hundred day moving average price is $177.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93.

Meritage Homes (NYSE:MTHGet Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $1.14. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.02 earnings per share. As a group, research analysts forecast that Meritage Homes Co. will post 21.09 EPS for the current year.

Meritage Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Meritage Homes’s dividend payout ratio is presently 13.99%.

Insider Buying and Selling

In other Meritage Homes news, EVP Javier Feliciano sold 3,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $198.36, for a total transaction of $595,080.00. Following the completion of the transaction, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at approximately $2,837,936.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Phillippe Lord sold 10,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the completion of the sale, the chief executive officer now owns 90,266 shares in the company, valued at approximately $18,084,793.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Javier Feliciano sold 3,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the completion of the transaction, the executive vice president now owns 14,307 shares of the company’s stock, valued at approximately $2,837,936.52. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $3,111,080 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James boosted their price objective on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wedbush boosted their price target on Meritage Homes from $148.00 to $160.00 and gave the company an “underperform” rating in a report on Friday, July 26th. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group raised their price target on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Read Our Latest Stock Analysis on Meritage Homes

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.

Featured Articles

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

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.