Leibman Financial Services Inc. Raises Stock Position in Meritage Homes Co. (NYSE:MTH)

Leibman Financial Services Inc. lifted its holdings in Meritage Homes Co. (NYSE:MTH - Free Report) by 101.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,905 shares of the construction company's stock after buying an additional 12,031 shares during the quarter. Leibman Financial Services Inc.'s holdings in Meritage Homes were worth $1,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Meritage Homes by 33.1% during the fourth quarter. JPMorgan Chase & Co. now owns 314,323 shares of the construction company's stock worth $48,349,000 after acquiring an additional 78,087 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Meritage Homes by 235.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after purchasing an additional 475 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Meritage Homes by 4.9% in the 4th quarter. New York State Common Retirement Fund now owns 14,589 shares of the construction company's stock worth $2,244,000 after purchasing an additional 679 shares in the last quarter. Sei Investments Co. grew its stake in shares of Meritage Homes by 10.2% in the 4th quarter. Sei Investments Co. now owns 47,699 shares of the construction company's stock worth $7,337,000 after buying an additional 4,397 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in Meritage Homes by 84.6% during the 4th quarter. Townsquare Capital LLC now owns 3,006 shares of the construction company's stock valued at $462,000 after buying an additional 1,378 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Stock Performance

Shares of Meritage Homes stock traded up $1.33 on Wednesday, hitting $65.60. 919,062 shares of the company's stock were exchanged, compared to its average volume of 889,172. Meritage Homes Co. has a 1 year low of $59.27 and a 1 year high of $106.99. The company has a 50-day simple moving average of $66.60 and a 200-day simple moving average of $75.93. 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 stock has a market capitalization of $4.71 billion, a PE ratio of 5.02 and a beta of 1.50.

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

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Monday, June 16th. Meritage Homes's payout ratio is 14.06%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods dropped their target price on Meritage Homes from $90.00 to $77.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Wedbush restated a "neutral" rating and set a $103.00 price objective on shares of Meritage Homes in a research note on Tuesday, February 4th. Wall Street Zen downgraded shares of Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. UBS Group set a $107.00 price target on shares of Meritage Homes in a report on Friday, April 25th. Finally, Bank of America began coverage on shares of Meritage Homes in a report on Monday, May 5th. They issued a "buy" rating and a $82.00 price objective for the company. One 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 MarketBeat, Meritage Homes 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.