Burney Co. Has $769,000 Stock Position in Meritage Homes Co. (NYSE:MTH)

Burney Co. trimmed its holdings in shares of Meritage Homes Co. (NYSE:MTH) by 69.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,407 shares of the construction company’s stock after selling 12,569 shares during the period. Burney Co.’s holdings in Meritage Homes were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Meritage Homes by 212.6% in the first quarter. Wellington Management Group LLP now owns 787,201 shares of the construction company’s stock valued at $91,914,000 after purchasing an additional 535,368 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Meritage Homes by 883.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 580,650 shares of the construction company’s stock worth $10,911,000 after acquiring an additional 521,628 shares in the last quarter. Norges Bank bought a new stake in shares of Meritage Homes during the 4th quarter worth about $36,473,000. Millennium Management LLC boosted its stake in shares of Meritage Homes by 252.9% during the 4th quarter. Millennium Management LLC now owns 488,657 shares of the construction company’s stock worth $45,054,000 after acquiring an additional 350,204 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Meritage Homes by 6,472.4% during the 1st quarter. FMR LLC now owns 328,161 shares of the construction company’s stock worth $38,316,000 after acquiring an additional 323,168 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Price Performance

NYSE MTH opened at $142.55 on Friday. Meritage Homes Co. has a twelve month low of $80.25 and a twelve month high of $152.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $5.20 billion, a PE ratio of 6.59 and a beta of 1.69. The stock has a 50-day simple moving average of $123.31 and a 200 day simple moving average of $130.53.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Tuesday, October 31st. The construction company reported $5.98 EPS for the quarter, beating the consensus estimate of $5.10 by $0.88. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Meritage Homes had a return on equity of 19.23% and a net margin of 12.40%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.10 EPS. Research analysts anticipate that Meritage Homes Co. will post 19.45 EPS for the current year.

Meritage Homes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.27 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.08 annualized dividend and a yield of 0.76%. Meritage Homes’s dividend payout ratio (DPR) is 4.99%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MTH. Seaport Res Ptn upgraded Meritage Homes from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. StockNews.com upgraded Meritage Homes from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, UBS Group upped their price target on Meritage Homes from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Meritage Homes presently has an average rating of “Moderate Buy” and a consensus price target of $136.33.

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 first-time and first move-up buyers in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee.