Phocas Financial Corp. Grows Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Phocas Financial Corp. boosted its position in Meritage Homes Co. (NYSE:MTH - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,848 shares of the construction company's stock after acquiring an additional 4,911 shares during the period. Phocas Financial Corp.'s holdings in Meritage Homes were worth $3,668,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Meritage Homes in the 4th quarter worth $7,151,000. Jefferies Financial Group Inc. bought a new stake in Meritage Homes in the 4th quarter worth $5,807,000. Public Employees Retirement System of Ohio grew its holdings in Meritage Homes by 156.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 20,607 shares of the construction company's stock worth $3,170,000 after acquiring an additional 12,583 shares during the last quarter. GTS Securities LLC bought a new stake in Meritage Homes in the 4th quarter worth $229,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Meritage Homes in the 4th quarter worth $130,000. Institutional investors own 98.44% of the company's stock.

Meritage Homes Stock Up 0.4%

NYSE:MTH traded up $0.26 during trading hours on Thursday, reaching $63.94. 920,020 shares of the company traded hands, compared to its average volume of 887,719. The company has a current ratio of 1.61, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The business's 50-day moving average price is $67.34 and its two-hundred day moving average price is $76.78. Meritage Homes Co. has a 1 year low of $59.27 and a 1 year high of $106.99. The stock has a market capitalization of $4.59 billion, a P/E ratio of 4.89 and a beta of 1.50.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the firm earned $5.06 EPS. Meritage Homes's revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts predict that Meritage Homes Co. will post 9.44 earnings per share 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 issued a $0.43 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.72 annualized dividend and a yield of 2.69%. Meritage Homes's dividend payout ratio (DPR) is presently 14.06%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTH. Seaport Res Ptn raised shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Keefe, Bruyette & Woods cut their target price on shares of 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 began coverage on shares of Meritage Homes in a research note on Monday, May 5th. They set a "buy" rating and a $82.00 target price on the stock. Wall Street Zen lowered shares of Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Meritage Homes presently has an average rating of "Hold" and an average 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.