BNP Paribas Financial Markets Has $1.73 Million Position in Meritage Homes Co. (NYSE:MTH)

BNP Paribas Financial Markets cut its position in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 67.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,268 shares of the construction company's stock after selling 23,088 shares during the period. BNP Paribas Financial Markets' holdings in Meritage Homes were worth $1,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new position in Meritage Homes in the fourth quarter worth approximately $31,000. Allworth Financial LP increased its stake in shares of 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 purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Meritage Homes during the 4th quarter valued at $92,000. Smartleaf Asset Management LLC lifted its position in shares of Meritage Homes by 235.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after buying an additional 475 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of 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 acquiring an additional 314 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Stock Performance

MTH stock traded down $2.42 during trading on Wednesday, reaching $64.10. 880,591 shares of the stock were exchanged, compared to its average volume of 880,583. The stock has a 50 day simple moving average of $68.09 and a 200-day simple moving average of $77.90. 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 Co. has a twelve month low of $59.27 and a twelve month high of $106.99. The company has a market capitalization of $4.60 billion, a P/E ratio of 4.90 and a beta of 1.50.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.69 EPS for the quarter, missing analysts' consensus estimates of $1.71 by ($0.02). Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $5.06 earnings per share. The business's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.43 per share. This is a positive change from Meritage Homes's previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, March 17th. Meritage Homes's payout ratio is 14.06%.

Wall Street Analysts Forecast Growth

MTH has been the topic of a number of recent analyst reports. Bank of America initiated coverage on Meritage Homes in a research note on Monday, May 5th. They issued a "buy" rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Meritage Homes from $89.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn upgraded shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. StockNews.com lowered shares of Meritage Homes from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Finally, UBS Group set a $107.00 price target on Meritage Homes in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Meritage Homes has an average rating of "Hold" and a consensus 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.