Sone Capital Management LLC Takes $4.70 Million Position in Meritage Homes Co. (NYSE:MTH)

Sone Capital Management LLC purchased a new position in Meritage Homes Co. (NYSE:MTH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,563 shares of the construction company's stock, valued at approximately $4,701,000.

A number of other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Meritage Homes by 33.1% during the fourth quarter. JPMorgan Chase & Co. now owns 314,323 shares of the construction company's stock worth $48,349,000 after purchasing an additional 78,087 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Meritage Homes by 235.1% during the fourth 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 period. New York State Common Retirement Fund raised its position in shares of Meritage Homes by 4.9% during the fourth quarter. New York State Common Retirement Fund now owns 14,589 shares of the construction company's stock worth $2,244,000 after purchasing an additional 679 shares during the period. Sei Investments Co. raised its position in shares of Meritage Homes by 10.2% during the fourth quarter. Sei Investments Co. now owns 47,699 shares of the construction company's stock worth $7,337,000 after purchasing an additional 4,397 shares during the period. Finally, Townsquare Capital LLC raised its position in shares of Meritage Homes by 84.6% during the fourth quarter. Townsquare Capital LLC now owns 3,006 shares of the construction company's stock worth $462,000 after purchasing an additional 1,378 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Meritage Homes Stock Performance

MTH stock traded down $0.12 during midday trading on Friday, hitting $64.23. The company's stock had a trading volume of 536,392 shares, compared to its average volume of 882,944. The stock's 50-day moving average price is $67.73 and its 200 day moving average price is $77.39. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. Meritage Homes Co. has a 1 year low of $59.27 and a 1 year high of $106.99. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 4.91 and a beta of 1.50.

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

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.43 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.72 annualized dividend and a yield of 2.68%. Meritage Homes's payout ratio is 14.06%.

Analysts Set New Price Targets

MTH has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods cut their price target on Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Wall Street Zen downgraded Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. UBS Group set a $107.00 price target on Meritage Homes in a research note on Friday, April 25th. Finally, Wedbush reiterated a "neutral" rating and set a $103.00 price target on shares of Meritage Homes in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Meritage Homes presently has a consensus rating of "Hold" and a consensus target price 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.