Voloridge Investment Management LLC Purchases New Shares in Meritage Homes Co. (NYSE:MTH)

Voloridge Investment Management LLC acquired a new stake in shares of Meritage Homes Co. (NYSE:MTH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,001 shares of the construction company's stock, valued at approximately $9,537,000. Voloridge Investment Management LLC owned about 0.09% of Meritage Homes as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Woodson Capital Management LP grew its holdings in Meritage Homes by 27.7% during the fourth quarter. Woodson Capital Management LP now owns 38,300 shares of the construction company's stock valued at $5,891,000 after purchasing an additional 8,300 shares during the period. iSAM Funds UK Ltd bought a new stake in shares of Meritage Homes during the fourth quarter valued at approximately $1,031,000. Sone Capital Management LLC purchased a new position in shares of Meritage Homes in the fourth quarter worth $4,701,000. Sophron Capital Management L.P. bought a new position in shares of Meritage Homes during the fourth quarter worth $4,722,000. Finally, Squarepoint Ops LLC purchased a new position in Meritage Homes during the fourth quarter valued at $11,015,000. Institutional investors own 98.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wedbush reaffirmed a "neutral" rating and issued a $103.00 price objective on shares of Meritage Homes in a research note on Tuesday, February 4th. UBS Group set a $107.00 price target on shares of Meritage Homes in a report on Friday, April 25th. Bank of America assumed coverage on shares of Meritage Homes in a research note on Monday, May 5th. They issued a "buy" rating and a $82.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on 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. Finally, Wall Street Zen lowered Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Meritage Homes has an average rating of "Hold" and an average price target of $97.72.

Meritage Homes Stock Up 0.4%

Shares of MTH traded up $0.26 during midday trading on Thursday, reaching $63.94. 920,020 shares of the stock were exchanged, compared to its average volume of 885,640. Meritage Homes Co. has a 52 week low of $59.27 and a 52 week high of $106.99. The company's 50 day moving average is $67.34 and its two-hundred day moving average is $76.78. The company has a market capitalization of $4.59 billion, a P/E ratio of 4.89 and a beta of 1.50. The company has a current ratio of 1.61, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly 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 analysts' expectations 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 was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.06 earnings per share. On average, sell-side analysts anticipate that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.69%. Meritage Homes's dividend payout ratio is presently 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.