Meritage Homes (NYSE:MTH) Given New $195.00 Price Target at Keefe, Bruyette & Woods

Meritage Homes (NYSE:MTH - Free Report) had its price target increased by Keefe, Bruyette & Woods from $180.00 to $195.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a market perform rating on the construction company's stock.

Several other analysts also recently weighed in on the stock. Wedbush reiterated an underperform rating and issued a $148.00 target price on shares of Meritage Homes in a report on Thursday, April 25th. Zelman & Associates raised shares of Meritage Homes from a neutral rating to an outperform rating in a research note on Monday, February 26th. Seaport Res Ptn cut Meritage Homes from a buy rating to a neutral rating in a research note on Monday, January 22nd. The Goldman Sachs Group upped their price target on Meritage Homes from $151.00 to $182.00 and gave the stock a neutral rating in a report on Thursday, January 11th. Finally, StockNews.com upgraded Meritage Homes from a hold rating to a buy rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Meritage Homes currently has an average rating of Hold and an average target price of $178.25.

Meritage Homes Trading Up 0.0 %

Shares of NYSE MTH traded up $0.01 during trading on Wednesday, hitting $180.59. 604,136 shares of the company were exchanged, compared to its average volume of 420,239. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. The company has a fifty day moving average price of $162.18 and a 200-day moving average price of $156.37. Meritage Homes has a 12-month low of $109.23 and a 12-month high of $183.78. The firm has a market capitalization of $6.56 billion, a PE ratio of 8.38 and a beta of 1.75.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $3.54 by $1.52. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. As a group, equities research analysts expect that Meritage Homes will post 20.41 EPS for the current year.

Meritage Homes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.75 dividend. This is a positive change from Meritage Homes's previous quarterly dividend of $0.27. This represents a $3.00 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, March 14th. Meritage Homes's dividend payout ratio is currently 13.99%.

Insider Transactions at Meritage Homes

In related news, CAO Alison Sasser sold 231 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $152.99, for a total value of $35,340.69. Following the transaction, the chief accounting officer now directly owns 1,859 shares of the company's stock, valued at approximately $284,408.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Alison Sasser sold 231 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $152.99, for a total transaction of $35,340.69. Following the transaction, the chief accounting officer now directly owns 1,859 shares in the company, valued at $284,408.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Clinton Szubinski sold 797 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $152.62, for a total transaction of $121,638.14. Following the sale, the chief operating officer now owns 5,234 shares of the company's stock, valued at approximately $798,813.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,998 shares of company stock worth $635,171. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Meritage Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in shares of Meritage Homes by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 7,347 shares of the construction company's stock worth $1,289,000 after acquiring an additional 498 shares during the period. US Bancorp DE boosted its holdings in Meritage Homes by 22.8% in the 1st quarter. US Bancorp DE now owns 12,874 shares of the construction company's stock valued at $2,259,000 after purchasing an additional 2,392 shares in the last quarter. Inspire Investing LLC increased its position in Meritage Homes by 91.7% during the 1st quarter. Inspire Investing LLC now owns 4,231 shares of the construction company's stock worth $742,000 after purchasing an additional 2,024 shares during the period. Inspire Advisors LLC purchased a new position in shares of Meritage Homes during the 1st quarter worth approximately $1,166,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Meritage Homes by 33.3% in the 1st quarter. Meeder Asset Management Inc. now owns 5,390 shares of the construction company's stock valued at $946,000 after buying an additional 1,347 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

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.