Transcend Capital Advisors LLC Purchases Shares of 4,212 Meritage Homes Corporation (NYSE:MTH)

Transcend Capital Advisors LLC purchased a new position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,212 shares of the construction company's stock, valued at approximately $299,000.

Other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. lifted its stake in Meritage Homes by 100.0% during the first quarter. Salem Investment Counselors Inc. now owns 380 shares of the construction company's stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Pinnacle Holdings LLC acquired a new position in shares of Meritage Homes during the 4th quarter worth $31,000. Versant Capital Management Inc lifted its position in shares of Meritage Homes by 77.7% during the 1st quarter. Versant Capital Management Inc now owns 606 shares of the construction company's stock worth $43,000 after buying an additional 265 shares during the last quarter. Byrne Asset Management LLC boosted its stake in Meritage Homes by 329.9% in the first quarter. Byrne Asset Management LLC now owns 619 shares of the construction company's stock valued at $44,000 after buying an additional 475 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Meritage Homes by 246.4% in the first quarter. Harbor Capital Advisors Inc. now owns 634 shares of the construction company's stock valued at $45,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company's stock.

Analyst Ratings Changes

MTH has been the subject of several research analyst reports. Bank of America initiated coverage on Meritage Homes in a research note on Monday, May 5th. They set a "buy" rating and a $82.00 target price for the company. Seaport Res Ptn upgraded shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. UBS Group set a $107.00 target price on shares of Meritage Homes in a research report on Friday, April 25th. Keefe, Bruyette & Woods lowered their price target on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $97.72.

Insider Activity at Meritage Homes

In other news, Director Joseph Keough bought 4,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was acquired at an average price of $66.16 per share, with a total value of $264,640.00. Following the transaction, the director owned 41,700 shares of the company's stock, valued at $2,758,872. This trade represents a 10.61% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Meritage Homes Trading Up 1.5%

Shares of MTH stock traded up $1.08 during trading hours on Wednesday, hitting $72.05. 314,184 shares of the company's stock traded hands, compared to its average volume of 930,821. The stock has a market cap of $5.18 billion, a PE ratio of 5.89 and a beta of 1.37. The stock's 50 day simple moving average is $66.33 and its 200 day simple moving average is $72.27. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.35. Meritage Homes Corporation 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 earnings per share 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 analyst estimates of $1.34 billion. Meritage Homes had a net margin of 11.50% and a return on equity of 14.28%. The business's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.06 earnings per share. On average, sell-side analysts anticipate that Meritage Homes Corporation will post 9.44 EPS for the current year.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.43 per share. The ex-dividend date was Monday, June 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.39%. Meritage Homes's dividend payout ratio (DPR) is 14.06%.

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.