Deutsche Bank AG Acquires 26,843 Shares of Meritage Homes Corporation $MTH

Key Points

• Deutsche Bank AG increased its stake in Meritage Homes Corporation by **32.7%** during the first quarter, now holding 108,971 shares valued at approximately $7.72 million.
• Institutional investor ownership of Meritage Homes is high, with **98.44%** of the stock held by institutions, including significant stakes from Vanguard Group and Charles Schwab Investment Management.
• Meritage Homes reported a **4.6% decline** in quarterly revenue year-over-year, with a net margin of **10.27%** and earnings per share (EPS) of **$2.04**, surpassing analyst expectations of $1.99.

Deutsche Bank AG raised its holdings in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 32.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,971 shares of the construction company's stock after purchasing an additional 26,843 shares during the quarter. Deutsche Bank AG owned approximately 0.15% of Meritage Homes worth $7,724,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its holdings in Meritage Homes by 100.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 380 shares of the construction company's stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Assetmark Inc. lifted its holdings in Meritage Homes by 166.5% during the 1st quarter. Assetmark Inc. now owns 581 shares of the construction company's stock valued at $41,000 after purchasing an additional 363 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Meritage Homes by 77.7% during the 1st 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. Byrne Asset Management LLC lifted its holdings in Meritage Homes by 329.9% during the 1st quarter. Byrne Asset Management LLC now owns 619 shares of the construction company's stock valued at $44,000 after purchasing an additional 475 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Meritage Homes by 246.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 634 shares of the construction company's stock worth $45,000 after buying an additional 451 shares during the period. Institutional investors and hedge funds own 98.44% of the company's stock.

Insider Transactions at Meritage Homes

In other Meritage Homes news, Director Joseph Keough bought 4,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $66.16 per share, for a total transaction of $264,640.00. Following the completion of the transaction, the director directly owned 41,700 shares in the company, valued at approximately $2,758,872. The trade was a 10.61% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis V. Arriola bought 2,200 shares of the firm's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $154,000.00. Following the transaction, the director owned 9,512 shares of the company's stock, valued at approximately $665,840. The trade was a 30.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Meritage Homes Price Performance

MTH stock traded down $2.48 during midday trading on Wednesday, reaching $74.77. The company had a trading volume of 1,355,824 shares, compared to its average volume of 1,231,485. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 6.72 and a beta of 1.29. The stock has a 50 day moving average price of $70.45 and a 200-day moving average price of $69.74. Meritage Homes Corporation has a 1-year low of $59.27 and a 1-year high of $106.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.16 and a quick ratio of 2.16.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.05. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.60 billion. Meritage Homes had a return on equity of 12.37% and a net margin of 10.27%.Meritage Homes's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.15 earnings per share. Equities research analysts expect that Meritage Homes Corporation will post 9.44 earnings per share for the current year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, June 16th. Meritage Homes's payout ratio is 15.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MTH shares. Keefe, Bruyette & Woods dropped their target price on Meritage Homes from $77.00 to $75.00 and set a "market perform" rating for the company in a report on Monday, July 28th. JPMorgan Chase & Co. dropped their target price on Meritage Homes from $70.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Evercore ISI lifted their target price on Meritage Homes from $97.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Bank of America started coverage on Meritage Homes in a report on Monday, May 5th. They set a "buy" rating and a $82.00 target price for the company. Finally, Wedbush dropped their target price on Meritage Homes from $103.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.71.

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.