Wellington Management Group LLP Has $43.61 Million Stake in Meritage Homes Co. (NYSE:MTH)

Wellington Management Group LLP lowered its holdings in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 24.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 283,479 shares of the construction company's stock after selling 89,834 shares during the period. Wellington Management Group LLP owned 0.40% of Meritage Homes worth $43,605,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTH. Pinnacle Holdings LLC acquired a new stake in Meritage Homes during the fourth quarter worth approximately $31,000. Allworth Financial LP lifted its position in Meritage Homes by 545.5% during the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after acquiring an additional 180 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Meritage Homes during the fourth quarter worth approximately $92,000. Smartleaf Asset Management LLC lifted its position in Meritage Homes by 235.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after acquiring an additional 475 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in Meritage Homes during the fourth quarter worth approximately $130,000. Institutional investors own 98.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of 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 price target on shares of Meritage Homes in a research report on Friday, April 25th. 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 report on Monday, April 28th. Wall Street Zen downgraded shares of Meritage Homes from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Finally, Seaport Res Ptn upgraded shares of Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. One 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. According to MarketBeat, Meritage Homes has an average rating of "Hold" and a consensus price target of $97.72.

Meritage Homes Price Performance

MTH traded down $0.36 during trading on Friday, hitting $63.63. 792,806 shares of the stock traded hands, compared to its average volume of 889,162. Meritage Homes Co. has a twelve month low of $59.27 and a twelve month high of $106.99. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 4.87 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. The business has a 50 day moving average price of $66.96 and a 200 day moving average price of $76.29.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.02). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.06 earnings per share. Equities research analysts forecast that Meritage Homes Co. will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.70%. Meritage Homes's dividend payout ratio (DPR) is presently 14.06%.

About Meritage Homes

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.