Shell Asset Management Co. Trims Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Shell Asset Management Co. decreased its position in Meritage Homes Co. (NYSE:MTHFree Report) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,389 shares of the construction company’s stock after selling 94 shares during the quarter. Shell Asset Management Co.’s holdings in Meritage Homes were worth $660,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in shares of Meritage Homes in the 1st quarter worth approximately $29,000. Carmel Capital Partners LLC purchased a new position in shares of Meritage Homes in the 3rd quarter worth approximately $38,000. Quantbot Technologies LP purchased a new position in shares of Meritage Homes in the 1st quarter worth approximately $48,000. Ronald Blue Trust Inc. boosted its holdings in shares of Meritage Homes by 339.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 431 shares of the construction company’s stock worth $53,000 after purchasing an additional 333 shares during the period. Finally, Covestor Ltd boosted its holdings in Meritage Homes by 108.3% during the 1st quarter. Covestor Ltd now owns 1,337 shares of the construction company’s stock valued at $106,000 after acquiring an additional 695 shares during the period. Institutional investors own 99.48% of the company’s stock.

Wall Street Analysts Forecast Growth

MTH has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Meritage Homes from $151.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Seaport Res Ptn lowered Meritage Homes from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price on shares of Meritage Homes in a research report on Thursday, February 1st. Finally, StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.25.

Check Out Our Latest Stock Analysis on Meritage Homes

Insider Buying and Selling at Meritage Homes

In related news, CEO Phillippe Lord sold 7,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $145.50, for a total value of $1,018,500.00. Following the completion of the sale, the chief executive officer now owns 36,091 shares of the company’s stock, valued at $5,251,240.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Meritage Homes Stock Performance

Shares of MTH stock opened at $154.42 on Friday. The business’s 50 day moving average is $165.86 and its two-hundred day moving average is $143.52. Meritage Homes Co. has a 12-month low of $103.61 and a 12-month high of $179.68. The company has a market capitalization of $5.63 billion, a P/E ratio of 7.75 and a beta of 1.78. The company has a current ratio of 2.07, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.70%. Meritage Homes’s payout ratio is currently 5.42%.

Meritage Homes Company Profile

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

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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