Hsbc Holdings PLC Raises Stock Position in Meritage Homes Co. (NYSE:MTH)

Hsbc Holdings PLC grew its position in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 408.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,364 shares of the construction company's stock after acquiring an additional 23,592 shares during the quarter. Hsbc Holdings PLC's holdings in Meritage Homes were worth $4,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new position in Meritage Homes in the fourth quarter valued at about $31,000. Allworth Financial LP grew 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 buying an additional 180 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Meritage Homes in the fourth quarter worth approximately $92,000. Smartleaf Asset Management LLC increased its holdings 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 buying an additional 475 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake 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 acquiring an additional 314 shares during the last quarter. Institutional investors own 98.44% of the company's stock.

Insider Activity at Meritage Homes

In related news, CAO Alison Sasser sold 676 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $72.03, for a total value of $48,692.28. Following the completion of the sale, the chief accounting officer now owns 5,933 shares in the company, valued at approximately $427,353.99. The trade was a 10.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven J. Hilton purchased 11,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $74.51 per share, for a total transaction of $819,610.00. Following the transaction, the chairman now directly owns 811,192 shares in the company, valued at approximately $60,441,915.92. This represents a 1.37 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,683 shares of company stock worth $122,547. Company insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MTH shares. JPMorgan Chase & Co. reduced their price target on shares of Meritage Homes from $89.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday. Wedbush reissued a "neutral" rating and issued a $103.00 price target on shares of Meritage Homes in a research note on Tuesday, February 4th. StockNews.com cut Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. The Goldman Sachs Group decreased their target price on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $99.69.

Meritage Homes Stock Performance

Shares of NYSE MTH traded up $1.76 during midday trading on Friday, hitting $68.71. 630,762 shares of the stock traded hands, compared to its average volume of 886,774. Meritage Homes Co. has a one year low of $59.27 and a one year high of $106.99. The firm has a 50-day moving average of $69.33 and a two-hundred day moving average of $80.13. 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 firm has a market capitalization of $4.94 billion, a P/E ratio of 5.26 and a beta of 1.69.

Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly 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). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business posted $5.06 earnings per share. The firm's revenue was down 8.5% on a year-over-year basis. On average, equities analysts forecast that Meritage Homes Co. will post 9.44 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.43 per share. The ex-dividend date was Monday, March 17th. This is an increase from Meritage Homes's previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a yield of 2.50%. Meritage Homes's dividend payout ratio is 14.06%.

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.