Handelsbanken Fonder AB Increases Holdings in Meritage Homes Corporation (NYSE:MTH)

Handelsbanken Fonder AB raised its position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,046 shares of the construction company's stock after purchasing an additional 9,523 shares during the quarter. Handelsbanken Fonder AB's holdings in Meritage Homes were worth $1,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of Meritage Homes by 8.1% during the fourth quarter. M&T Bank Corp now owns 2,293 shares of the construction company's stock worth $353,000 after purchasing an additional 172 shares during the period. Allworth Financial LP lifted its stake in Meritage Homes by 545.5% during the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company's stock valued at $33,000 after acquiring an additional 180 shares during the period. Summit Investment Advisors Inc. lifted its stake in Meritage Homes by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,758 shares of the construction company's stock valued at $578,000 after acquiring an additional 186 shares during the period. Alpha DNA Investment Management LLC boosted its holdings in shares of Meritage Homes by 6.3% in the 4th quarter. Alpha DNA Investment Management LLC now owns 3,219 shares of the construction company's stock valued at $495,000 after acquiring an additional 190 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Meritage Homes by 41.7% in the first quarter. Farther Finance Advisors LLC now owns 676 shares of the construction company's stock worth $48,000 after acquiring an additional 199 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Price Performance

Meritage Homes stock traded down $0.21 during trading on Wednesday, reaching $62.36. The company had a trading volume of 469,899 shares, compared to its average volume of 877,477. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $4.48 billion, a PE ratio of 5.09 and a beta of 1.37. Meritage Homes Corporation has a 1-year low of $59.27 and a 1-year high of $106.99. The firm's 50-day simple moving average is $66.09 and its 200 day simple moving average is $74.01.

Meritage Homes (NYSE:MTH - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $1.34 billion. Meritage Homes had a return on equity of 14.28% and a net margin of 11.50%. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.06 EPS. As a group, equities research analysts anticipate that Meritage Homes Corporation will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.43 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.76%. Meritage Homes's dividend payout ratio (DPR) is presently 14.06%.

Insider Transactions at Meritage Homes

In other Meritage Homes news, Director Joseph Keough purchased 4,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were purchased at an average cost of $66.16 per share, with a total value of $264,640.00. Following the completion of the purchase, the director now owns 41,700 shares in the company, valued at approximately $2,758,872. This represents a 10.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MTH shares. UBS Group set a $107.00 target price on shares of Meritage Homes in a research report on Friday, April 25th. Keefe, Bruyette & Woods lowered 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. 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 on the stock. JPMorgan Chase & Co. lowered their price objective on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus 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.