Meritage Homes Corporation $MTH Shares Purchased by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its holdings in Meritage Homes Corporation by 137.8% in the first quarter, now owning 44,726 shares worth approximately $3.17 million.
• Meritage Homes recently declared a quarterly dividend of $0.43 per share, with an annualized yield of 2.1%, payable on September 30th.
• Meritage Homes posted a net margin of 10.27% and a return on equity of 12.37%, reporting earnings per share of $2.04 for the last quarter, exceeding analysts' expectations.

Integrated Wealth Concepts LLC grew its stake in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) by 137.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,726 shares of the construction company's stock after purchasing an additional 25,914 shares during the quarter. Integrated Wealth Concepts LLC owned approximately 0.06% of Meritage Homes worth $3,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTH. Vanguard Group Inc. raised its holdings in Meritage Homes by 96.3% during the first quarter. Vanguard Group Inc. now owns 7,999,889 shares of the construction company's stock worth $567,032,000 after purchasing an additional 3,925,148 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Meritage Homes by 93.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,926,900 shares of the construction company's stock valued at $207,456,000 after acquiring an additional 1,417,024 shares during the period. Long Pond Capital LP boosted its stake in Meritage Homes by 592.7% during the 1st quarter. Long Pond Capital LP now owns 1,125,995 shares of the construction company's stock worth $79,811,000 after purchasing an additional 963,438 shares during the period. Wellington Management Group LLP boosted its stake in Meritage Homes by 278.1% during the 1st quarter. Wellington Management Group LLP now owns 1,071,802 shares of the construction company's stock worth $75,969,000 after purchasing an additional 788,323 shares during the period. Finally, Greenhaven Associates Inc. boosted its stake in Meritage Homes by 94.1% during the 1st quarter. Greenhaven Associates Inc. now owns 1,434,368 shares of the construction company's stock worth $101,668,000 after purchasing an additional 695,355 shares during the period. Institutional investors and hedge funds own 98.44% of the company's stock.

Meritage Homes Stock Performance

Meritage Homes stock traded up $2.61 during trading hours on Thursday, reaching $81.18. 1,046,232 shares of the stock were exchanged, compared to its average volume of 983,911. The stock has a market cap of $5.78 billion, a P/E ratio of 7.30 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.16 and a current ratio of 2.16. Meritage Homes Corporation has a 52-week low of $59.27 and a 52-week high of $106.99. The firm's 50 day moving average is $74.23 and its 200 day moving average is $70.15.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.60 billion. Meritage Homes had a net margin of 10.27% and a return on equity of 12.37%. Meritage Homes's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.15 EPS. Analysts predict that Meritage Homes Corporation will post 9.44 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 16th. Meritage Homes's dividend payout ratio (DPR) is currently 15.47%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MTH shares. Evercore ISI increased their price target on shares of Meritage Homes from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Meritage Homes from $70.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Wedbush decreased their price target on shares of Meritage Homes from $103.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Zelman & Associates upgraded shares of Meritage Homes to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Meritage Homes from $77.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Meritage Homes currently has an average rating of "Moderate Buy" and a consensus target price of $87.71.

Insider Transactions at Meritage Homes

In other news, CEO Phillippe Lord sold 6,950 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $80.01, for a total value of $556,069.50. Following the completion of the transaction, the chief executive officer owned 221,320 shares in the company, valued at $17,707,813.20. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dennis V. Arriola purchased 2,200 shares of the business's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $70.00 per share, with a total value of $154,000.00. Following the acquisition, the director directly owned 9,512 shares in the company, valued at approximately $665,840. This represents a 30.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company's stock.

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.