Two Sigma Investments LP Invests $7.34 Million in Meritage Homes Co. (NYSE:MTH)

Two Sigma Investments 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 SEC. The fund purchased 47,737 shares of the construction company's stock, valued at approximately $7,343,000. Two Sigma Investments LP owned 0.07% of Meritage Homes as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new stake in Meritage Homes in the fourth quarter valued at approximately $31,000. Allworth Financial LP raised its position in 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 purchasing an additional 180 shares during the period. Venturi Wealth Management LLC purchased a new stake in Meritage Homes in the fourth quarter valued at approximately $92,000. Smartleaf Asset Management LLC raised its position in Meritage Homes by 235.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock valued at $104,000 after purchasing an additional 475 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Meritage Homes by 38.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,122 shares of the construction company's stock valued at $173,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 98.44% of the company's stock.

Meritage Homes Stock Down 3.4%

Meritage Homes stock traded down $2.25 during mid-day trading on Wednesday, hitting $63.56. The company had a trading volume of 595,205 shares, compared to its average volume of 883,225. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 4.86 and a beta of 1.50. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. Meritage Homes Co. has a 1 year low of $59.27 and a 1 year high of $106.99. The business has a fifty day moving average of $67.47 and a 200 day moving average of $76.87.

Meritage Homes (NYSE:MTH - Get Free Report) last posted 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). Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the business earned $5.06 earnings per share. The company's quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts expect that Meritage Homes Co. will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, June 16th. Meritage Homes's dividend payout ratio is currently 14.06%.

Analyst Ratings Changes

MTH has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price target on shares of Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Wall Street Zen cut 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 Meritage Homes in a research report on Friday, April 25th. Wedbush reiterated a "neutral" rating and issued a $103.00 price objective on shares of Meritage Homes in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.