Crestline Management LP Acquires New Position in Meritage Homes Co. (NYSE:MTH)

Crestline Management LP acquired a new position in shares of Meritage Homes Co. (NYSE:MTH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 52,708 shares of the construction company's stock, valued at approximately $8,108,000. Crestline Management LP owned about 0.07% of Meritage Homes as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in Meritage Homes during the 4th quarter valued at $31,000. Allworth Financial LP increased its stake in Meritage Homes by 545.5% during the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after buying an additional 180 shares during the period. Venturi Wealth Management LLC purchased a new stake in Meritage Homes during the 4th quarter worth approximately $92,000. Smartleaf Asset Management LLC increased its position in shares of Meritage Homes by 235.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after purchasing an additional 475 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Meritage Homes by 38.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,122 shares of the construction company's stock worth $173,000 after buying an additional 314 shares during the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Price Performance

NYSE:MTH traded down $0.29 during mid-day trading on Friday, reaching $68.90. The stock had a trading volume of 8,167 shares, compared to its average volume of 874,226. The stock has a 50-day simple moving average of $68.96 and a two-hundred day simple moving average of $79.24. The stock has a market capitalization of $4.95 billion, a PE ratio of 5.27 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. Meritage Homes Co. has a 12 month low of $59.27 and a 12 month high of $106.99.

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

Meritage Homes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Meritage Homes's previous quarterly dividend of $0.38. The ex-dividend date was Monday, March 17th. Meritage Homes's payout ratio is currently 14.06%.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 676 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $72.03, for a total value of $48,692.28. Following the completion of the sale, the chief accounting officer now owns 5,933 shares in the company, valued at approximately $427,353.99. This trade represents a 10.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven J. Hilton acquired 11,000 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $74.51 per share, with a total value of $819,610.00. Following the transaction, the chairman now directly owns 811,192 shares of the company's stock, valued at approximately $60,441,915.92. This trade represents a 1.37 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,683 shares of company stock valued at $122,547. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group reduced their target price on Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn upgraded shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Bank of America began coverage on shares of Meritage Homes in a research report on Monday. They issued a "buy" rating and a $82.00 target price for the company. Finally, Wedbush reissued a "neutral" rating and issued a $103.00 price objective on shares of Meritage Homes in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $97.72.

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.