GAMMA Investing LLC Has $14.47 Million Holdings in Meritage Homes Co. (NYSE:MTH)

GAMMA Investing LLC lifted its holdings in Meritage Homes Co. (NYSE:MTH - Free Report) by 19,893.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,134 shares of the construction company's stock after acquiring an additional 203,113 shares during the period. GAMMA Investing LLC owned approximately 0.28% of Meritage Homes worth $14,469,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc grew its stake 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 acquiring an additional 265 shares in the last quarter. Greenhaven Associates Inc. grew its stake in shares of Meritage Homes by 94.1% in the first quarter. Greenhaven Associates Inc. now owns 1,434,368 shares of the construction company's stock valued at $101,668,000 after acquiring an additional 695,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Meritage Homes by 8.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,279 shares of the construction company's stock valued at $2,042,000 after acquiring an additional 1,050 shares in the last quarter. Phocas Financial Corp. grew its stake in shares of Meritage Homes by 25.9% in the fourth quarter. Phocas Financial Corp. now owns 23,848 shares of the construction company's stock valued at $3,668,000 after acquiring an additional 4,911 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Meritage Homes during the fourth quarter worth about $7,151,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Meritage Homes Stock Down 2.0%

MTH stock opened at $63.93 on Friday. The stock 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 Co. has a 12 month low of $59.27 and a 12 month high of $106.99. The firm has a 50-day moving average price of $66.25 and a 200-day moving average price of $75.52.

Meritage Homes (NYSE:MTH - Get Free Report) last posted 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). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The firm's revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $5.06 EPS. As a group, equities research analysts anticipate that Meritage Homes Co. will post 9.44 EPS for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently disclosed 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. This represents a $1.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, June 16th. Meritage Homes's dividend payout ratio is currently 14.06%.

Analyst Ratings Changes

Several research firms recently weighed in on MTH. Keefe, Bruyette & Woods cut their price objective on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Wall Street Zen cut shares of Meritage Homes from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Bank of America began coverage on shares of Meritage Homes in a research report on Monday, May 5th. They set a "buy" rating and a $82.00 price objective for the company. Seaport Res Ptn raised shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, UBS Group set a $107.00 price objective on shares of Meritage Homes in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.

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