Meritage Homes Co. (NYSE:MTH) Position Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in Meritage Homes Co. (NYSE:MTH - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,509,876 shares of the construction company's stock after selling 39,782 shares during the period. Dimensional Fund Advisors LP owned about 2.09% of Meritage Homes worth $232,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTH. Norges Bank bought a new stake in shares of Meritage Homes in the fourth quarter worth $101,695,000. Groupama Asset Managment bought a new stake in Meritage Homes during the fourth quarter valued at $76,910,000. Victory Capital Management Inc. increased its stake in Meritage Homes by 2,199.9% during the fourth quarter. Victory Capital Management Inc. now owns 305,605 shares of the construction company's stock valued at $47,008,000 after purchasing an additional 292,317 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Meritage Homes during the fourth quarter valued at $43,147,000. Finally, First Trust Advisors LP increased its stake in Meritage Homes by 61.6% during the fourth quarter. First Trust Advisors LP now owns 571,120 shares of the construction company's stock valued at $87,850,000 after purchasing an additional 217,618 shares during the last quarter. Institutional investors own 98.44% of the company's stock.

Insider Activity at Meritage Homes

In other news, COO Clinton Szubinski sold 595 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer now owns 30,547 shares in the company, valued at approximately $2,238,789.63. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Alison Sasser sold 676 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28. Following the transaction, the chief accounting officer now owns 5,933 shares of the company's stock, valued at approximately $427,353.99. This trade 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 90 days. Corporate insiders own 2.20% of the company's stock.

Meritage Homes Stock Performance

Shares of MTH traded down $1.00 during midday trading on Friday, hitting $67.92. 725,228 shares of the stock traded hands, compared to its average volume of 884,032. The firm has a market capitalization of $4.88 billion, a PE ratio of 5.19 and a beta of 1.69. The business's 50 day moving average price is $69.96 and its two-hundred day moving average price is $80.94. Meritage Homes Co. has a 1-year low of $59.27 and a 1-year high of $106.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its earnings results 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). The company 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%. Equities research analysts predict that Meritage Homes Co. will post 9.44 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.53%. 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 currently 13.16%.

Wall Street Analysts Forecast Growth

MTH has been the subject of several recent research reports. StockNews.com lowered shares of Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. 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. The Goldman Sachs Group lowered their target price on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Wedbush reiterated a "neutral" rating and set a $103.00 target price on shares of Meritage Homes in a research note on Tuesday, February 4th. Finally, UBS Group lowered their target price on shares of Meritage Homes from $126.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Meritage Homes presently has a consensus rating of "Hold" and an average price target of $106.25.

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.