Charles Schwab Investment Management Inc. grew its holdings in Meritage Homes Co. (NYSE:MTH - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 460,118 shares of the construction company's stock after acquiring an additional 10,885 shares during the period. Charles Schwab Investment Management Inc. owned 1.26% of Meritage Homes worth $80,153,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Meritage Homes by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,170,062 shares of the construction company's stock valued at $510,374,000 after purchasing an additional 151,946 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Meritage Homes by 22.5% during the 4th quarter. Pacer Advisors Inc. now owns 779,549 shares of the construction company's stock valued at $135,797,000 after buying an additional 143,440 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Meritage Homes by 101.2% during the 3rd quarter. Acadian Asset Management LLC now owns 124,404 shares of the construction company's stock valued at $15,216,000 after acquiring an additional 62,569 shares during the period. Westfield Capital Management Co. LP increased its holdings in Meritage Homes by 22.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 340,662 shares of the construction company's stock worth $41,694,000 after acquiring an additional 62,549 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Meritage Homes by 9.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 689,600 shares of the construction company's stock worth $84,400,000 after acquiring an additional 61,594 shares during the period. Hedge funds and other institutional investors own 98.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MTH. Keefe, Bruyette & Woods upped their price target on shares of Meritage Homes from $180.00 to $195.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 8th. Zelman & Associates raised Meritage Homes from a "neutral" rating to an "outperform" rating in a report on Monday, February 26th. Wedbush restated an "underperform" rating and issued a $148.00 price objective on shares of Meritage Homes in a research report on Thursday, April 25th. Seaport Res Ptn cut Meritage Homes from a "buy" rating to a "neutral" rating in a research report on Monday, January 22nd. Finally, StockNews.com raised Meritage Homes from a "hold" rating to a "buy" rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $178.25.
Get Our Latest Stock Report on MTH
Insiders Place Their Bets
In other news, CAO Alison Sasser sold 231 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $152.99, for a total transaction of $35,340.69. Following the sale, the chief accounting officer now directly owns 1,859 shares in the company, valued at approximately $284,408.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Phillippe Lord sold 2,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total value of $406,975.00. Following the sale, the chief executive officer now owns 100,266 shares of the company's stock, valued at $16,322,302.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Alison Sasser sold 231 shares of Meritage Homes stock in a transaction dated Friday, February 16th. The stock was 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 of the company's stock, valued at $284,408.41. The disclosure for this sale can be found here. Insiders sold 2,846 shares of company stock valued at $459,356 in the last three months. Corporate insiders own 2.00% of the company's stock.
Meritage Homes Price Performance
Shares of Meritage Homes stock traded up $1.72 during trading on Tuesday, reaching $181.81. 211,378 shares of the stock traded hands, compared to its average volume of 413,303. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 8.48 and a beta of 1.75. Meritage Homes Co. has a 52-week low of $109.23 and a 52-week high of $183.78. The business has a fifty day simple moving average of $164.58 and a two-hundred day simple moving average of $158.82.
Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.54 by $1.52. The business 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%. Sell-side analysts expect that Meritage Homes Co. will post 20.34 EPS for the current year.
Meritage Homes Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.65%. This is a positive change from Meritage Homes's previous quarterly dividend of $0.27. Meritage Homes's dividend payout ratio (DPR) is 13.99%.
About Meritage Homes
(
Free Report)
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.
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