Two Sigma Advisers LP Takes $4.18 Million Position in Meritage Homes Co. (NYSE:MTH)

Two Sigma Advisers LP purchased a new stake in shares of Meritage Homes Co. (NYSE:MTH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,200 shares of the construction company's stock, valued at approximately $4,184,000.

Several other large investors have also added to or reduced their stakes in MTH. Pinnacle Holdings LLC bought a new stake in shares of Meritage Homes during the 4th quarter valued at $31,000. Allworth Financial LP lifted its position in shares of Meritage Homes by 545.5% in the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Meritage Homes in the 4th quarter worth approximately $92,000. Smartleaf Asset Management LLC grew its holdings in Meritage Homes by 235.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock valued at $104,000 after buying an additional 475 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Meritage Homes by 38.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,122 shares of the construction company's stock valued at $173,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company's stock.

Meritage Homes Trading Up 0.4%

Shares of MTH traded up $0.29 during trading hours on Thursday, reaching $63.97. 398,747 shares of the company traded hands, compared to its average volume of 937,242. The stock's fifty day moving average price is $67.34 and its 200 day moving average price is $76.78. 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 firm has a market cap of $4.59 billion, a price-to-earnings ratio of 4.89 and a beta of 1.50. Meritage Homes Co. has a 12-month low of $59.27 and a 12-month high of $106.99.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its 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). The company had revenue of $1.36 billion during 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 earned $5.06 EPS. Sell-side analysts forecast that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 16th. Meritage Homes's payout ratio is presently 14.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MTH shares. Wedbush restated a "neutral" rating and set a $103.00 target price on shares of Meritage Homes in a research report on Tuesday, February 4th. Keefe, Bruyette & Woods decreased their price target 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 assumed coverage on Meritage Homes in a research report on Monday, May 5th. They set a "buy" rating and a $82.00 price objective for the company. UBS Group set a $107.00 target price on Meritage Homes in a research report on Friday, April 25th. Finally, Seaport Res Ptn raised Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $97.72.

Meritage Homes 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.