Whittier Trust Co. decreased its holdings in shares of Meritage Homes Co. (NYSE:MTH – Free Report) by 37.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330 shares of the construction company’s stock after selling 199 shares during the period. Whittier Trust Co.’s holdings in Meritage Homes were worth $68,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in Meritage Homes by 32.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 47,546 shares of the construction company’s stock worth $9,750,000 after purchasing an additional 11,558 shares during the period. Vest Financial LLC increased its position in Meritage Homes by 7.0% during the 3rd quarter. Vest Financial LLC now owns 7,252 shares of the construction company’s stock worth $1,487,000 after purchasing an additional 476 shares during the period. V Square Quantitative Management LLC acquired a new position in Meritage Homes during the 3rd quarter worth approximately $28,000. BOS Asset Management LLC increased its position in Meritage Homes by 25.1% during the 3rd quarter. BOS Asset Management LLC now owns 4,874 shares of the construction company’s stock worth $1,000,000 after purchasing an additional 979 shares during the period. Finally, Occidental Asset Management LLC grew its holdings in shares of Meritage Homes by 4.9% in the 3rd quarter. Occidental Asset Management LLC now owns 12,167 shares of the construction company’s stock worth $2,495,000 after acquiring an additional 572 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.
Meritage Homes Price Performance
MTH stock opened at $185.43 on Friday. Meritage Homes Co. has a 1 year low of $109.23 and a 1 year high of $213.98. The firm has a market cap of $6.73 billion, a P/E ratio of 8.65 and a beta of 1.80. The stock’s 50 day moving average price is $196.90 and its 200 day moving average price is $181.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.93 and a current ratio of 1.93.
Meritage Homes Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, September 16th. Meritage Homes’s dividend payout ratio is presently 13.99%.
Analyst Ratings Changes
A number of research firms recently weighed in on MTH. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group upped their price target on Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Raymond James upped their price target on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target on the stock in a report on Wednesday, August 14th. Finally, Wedbush upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $160.00 to $195.00 in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $213.83.
View Our Latest Report on Meritage Homes
Insiders Place Their Bets
In other Meritage Homes news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total transaction of $512,500.00. Following the transaction, the chief financial officer now owns 44,570 shares of the company’s stock, valued at $9,136,850. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.
Meritage Homes Company 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.
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