Meritage Homes Co. (NYSE:MTH) Stake Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,645 shares of the construction company’s stock after selling 246 shares during the period. State of Alaska Department of Revenue owned about 0.09% of Meritage Homes worth $5,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in shares of Meritage Homes during the 1st quarter valued at about $29,000. Carmel Capital Partners LLC bought a new position in shares of Meritage Homes during the third quarter valued at approximately $38,000. Quantbot Technologies LP acquired a new stake in shares of Meritage Homes during the 1st quarter worth approximately $48,000. Ronald Blue Trust Inc. raised its position in shares of Meritage Homes by 339.8% during 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 lifted its holdings in shares of Meritage Homes by 108.3% in the 1st quarter. Covestor Ltd now owns 1,337 shares of the construction company’s stock worth $106,000 after purchasing an additional 695 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Trading Up 1.6 %

Shares of NYSE:MTH opened at $175.46 on Monday. The company has a 50 day moving average of $159.57 and a 200-day moving average of $148.23. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.35 billion, a P/E ratio of 8.81 and a beta of 1.76. Meritage Homes Co. has a twelve month low of $109.23 and a twelve month high of $179.68.

Meritage Homes (NYSE:MTHGet Free Report) last released its earnings results on Wednesday, January 31st. The construction company reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.20. Meritage Homes had a return on equity of 17.03% and a net margin of 12.03%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.52 billion. As a group, analysts anticipate that Meritage Homes Co. will post 17.72 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid 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 1.71%. This is a boost from Meritage Homes’s previous quarterly dividend of $0.27. Meritage Homes’s dividend payout ratio (DPR) is currently 15.06%.

Insider Buying and Selling

In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of Meritage Homes stock in a transaction that occurred 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 transaction, the chief executive officer now owns 100,266 shares in the company, valued at $16,322,302.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Phillippe Lord sold 2,500 shares of Meritage Homes stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Alison Sasser sold 231 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 1,859 shares in the company, valued at $284,408.41. The disclosure for this sale can be found here. Insiders have sold a total of 3,998 shares of company stock valued at $635,171 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

MTH has been the topic of a number of recent research reports. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Seaport Res Ptn cut shares of 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 price target on shares of Meritage Homes in a report on Thursday, February 1st. Zelman & Associates upgraded Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. Finally, The Goldman Sachs Group raised 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $180.00.

Read Our Latest Research Report on MTH

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

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