4D Advisors LLC Buys New Shares in Meritage Homes Co. (NYSE:MTH)

4D Advisors LLC acquired a new position in shares of Meritage Homes Co. (NYSE:MTH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the construction company's stock, valued at approximately $3,076,000. Meritage Homes accounts for approximately 2.1% of 4D Advisors LLC's holdings, making the stock its 23rd biggest holding.

A number of other hedge funds have also bought and sold shares of MTH. Mercer Global Advisors Inc. ADV lifted its stake in shares of Meritage Homes by 270.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,312 shares of the construction company's stock valued at $971,000 after purchasing an additional 4,610 shares during the period. Jane Street Group LLC lifted its stake in Meritage Homes by 59.2% in the fourth quarter. Jane Street Group LLC now owns 137,306 shares of the construction company's stock valued at $21,120,000 after buying an additional 51,061 shares during the period. Northern Trust Corp boosted its holdings in shares of Meritage Homes by 4.6% during the 4th quarter. Northern Trust Corp now owns 475,678 shares of the construction company's stock worth $73,169,000 after buying an additional 21,123 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Meritage Homes by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 59,847 shares of the construction company's stock worth $9,206,000 after buying an additional 2,061 shares during the period. Finally, Aquatic Capital Management LLC lifted its position in shares of Meritage Homes by 96.4% during the 4th quarter. Aquatic Capital Management LLC now owns 5,696 shares of the construction company's stock valued at $876,000 after acquiring an additional 2,796 shares during the period. Institutional investors own 98.44% of the company's stock.

Insider Activity

In other news, COO Clinton Szubinski sold 595 shares of Meritage Homes stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $73.29, for a total transaction of $43,607.55. Following the completion of the sale, the chief operating officer now directly owns 30,547 shares of the company's stock, valued at approximately $2,238,789.63. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alison Sasser sold 676 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total value of $48,692.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,933 shares in the company, valued at approximately $427,353.99. This represents a 10.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,683 shares of company stock worth $122,547 in the last three months. Corporate insiders own 2.20% of the company's stock.

Meritage Homes Stock Performance

Shares of NYSE:MTH traded down $0.39 during trading on Monday, hitting $68.29. 971,339 shares of the company were exchanged, compared to its average volume of 888,163. The company has a market cap of $4.91 billion, a PE ratio of 5.22 and a beta of 1.50. Meritage Homes Co. has a 52-week low of $59.27 and a 52-week high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. The stock has a 50 day moving average of $69.33 and a 200 day moving average of $79.84.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.71 by ($0.02). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the company posted $5.06 EPS. The business's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that Meritage Homes Co. will post 9.44 EPS for the current year.

Meritage Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Monday, March 17th. This is a positive change from Meritage Homes's previous quarterly dividend of $0.38. Meritage Homes's dividend payout ratio is 14.06%.

Wall Street Analyst Weigh In

MTH has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods dropped their price target on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Bank of America started coverage on shares of Meritage Homes in a research report on Monday. They set a "buy" rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $97.72.

About Meritage Homes

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.