Signaturefd LLC Grows Position in Meritage Homes Corporation $MTH

Signaturefd LLC raised its position in shares of Meritage Homes Corporation (NYSE:MTH) by 54.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 618 shares of the construction company’s stock after buying an additional 219 shares during the quarter. Signaturefd LLC’s holdings in Meritage Homes were worth $41,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MTH. Parallel Advisors LLC grew its holdings in Meritage Homes by 219.3% during the 1st quarter. Parallel Advisors LLC now owns 827 shares of the construction company’s stock valued at $59,000 after buying an additional 568 shares in the last quarter. Congress Asset Management Co. grew its holdings in Meritage Homes by 98.2% during the 1st quarter. Congress Asset Management Co. now owns 26,179 shares of the construction company’s stock valued at $1,856,000 after buying an additional 12,972 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in Meritage Homes during the 1st quarter valued at approximately $221,000. Farther Finance Advisors LLC boosted its holdings in shares of Meritage Homes by 41.7% in the 1st quarter. Farther Finance Advisors LLC now owns 676 shares of the construction company’s stock worth $48,000 after purchasing an additional 199 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Meritage Homes by 246.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 634 shares of the construction company’s stock worth $45,000 after purchasing an additional 451 shares during the period. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Insider Buying and Selling at Meritage Homes

In other news, CEO Phillippe Lord sold 6,950 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $80.01, for a total value of $556,069.50. Following the completion of the transaction, the chief executive officer directly owned 221,320 shares of the company’s stock, valued at approximately $17,707,813.20. The trade was a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dennis V. Arriola purchased 2,200 shares of Meritage Homes stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $70.00 per share, with a total value of $154,000.00. Following the completion of the transaction, the director owned 9,512 shares in the company, valued at approximately $665,840. This represents a 30.09% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their target price on Meritage Homes from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Monday, July 28th. Zelman & Associates upgraded Meritage Homes to a “strong-buy” rating in a report on Thursday, July 24th. Bank of America lifted their target price on Meritage Homes from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Meritage Homes in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. dropped their target price on Meritage Homes from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.14.

Meritage Homes Trading Down 3.4%

Shares of NYSE MTH opened at $72.16 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $75.34 and a two-hundred day simple moving average of $70.35. The firm has a market cap of $5.13 billion, a PE ratio of 6.49 and a beta of 1.42. Meritage Homes Corporation has a twelve month low of $59.27 and a twelve month high of $102.91.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.60 billion. Meritage Homes had a return on equity of 12.37% and a net margin of 10.27%.The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.15 EPS. Analysts expect that Meritage Homes Corporation will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 16th. Meritage Homes’s payout ratio is presently 15.47%.

Meritage Homes 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.