Congress Asset Management Co. Has $1.86 Million Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Congress Asset Management Co. boosted its holdings in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 98.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,179 shares of the construction company's stock after buying an additional 12,972 shares during the period. Congress Asset Management Co.'s holdings in Meritage Homes were worth $1,856,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in Meritage Homes during the fourth quarter worth $31,000. Allworth Financial LP raised its holdings in Meritage Homes by 545.5% during the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after buying an additional 180 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Meritage Homes by 77.7% in the first quarter. Versant Capital Management Inc now owns 606 shares of the construction company's stock valued at $43,000 after purchasing an additional 265 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Meritage Homes by 219.3% in the first quarter. Parallel Advisors LLC now owns 827 shares of the construction company's stock valued at $59,000 after purchasing an additional 568 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Meritage Homes in the fourth quarter valued at about $92,000. Institutional investors and hedge funds own 98.44% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MTH shares. Wall Street Zen downgraded shares of Meritage Homes from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Bank of America started coverage on shares of Meritage Homes in a report on Monday, May 5th. They issued a "buy" rating and a $82.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Meritage Homes from $89.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their target price 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, Seaport Res Ptn upgraded shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $97.72.

Meritage Homes Stock Performance

NYSE MTH opened at $63.93 on Monday. Meritage Homes Co. has a 52-week low of $59.27 and a 52-week high of $106.99. The company has a 50-day simple moving average of $66.25 and a 200 day simple moving average of $75.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61. The company has a market capitalization of $4.59 billion, a PE ratio of 4.89 and a beta of 1.37.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its earnings results 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). The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. Meritage Homes's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.06 EPS. On average, research analysts predict that Meritage Homes Co. will post 9.44 EPS for the current year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.69%. Meritage Homes's payout ratio is 14.06%.

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.

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