Blue Trust Inc. Has $109,000 Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Blue Trust Inc. grew its holdings in Meritage Homes Co. (NYSE:MTHFree Report) by 45.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628 shares of the construction company’s stock after purchasing an additional 197 shares during the quarter. Blue Trust Inc.’s holdings in Meritage Homes were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTH. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Meritage Homes by 137.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,550 shares of the construction company’s stock valued at $994,000 after purchasing an additional 7,266 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Meritage Homes by 43.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,740 shares of the construction company’s stock valued at $296,000 after purchasing an additional 1,138 shares during the period. AlphaCrest Capital Management LLC acquired a new position in shares of Meritage Homes in the 1st quarter valued at about $464,000. Bank of Montreal Can increased its position in Meritage Homes by 7.0% in the 1st quarter. Bank of Montreal Can now owns 14,632 shares of the construction company’s stock valued at $1,227,000 after buying an additional 962 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Meritage Homes by 49.3% in the 1st quarter. MetLife Investment Management LLC now owns 19,463 shares of the construction company’s stock valued at $1,542,000 after buying an additional 6,431 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on MTH. Wedbush lowered Meritage Homes from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $155.00 to $148.00 in a research report on Tuesday. The Goldman Sachs Group boosted 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. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $172.67.

Read Our Latest Research Report on Meritage Homes

Meritage Homes Stock Performance

Shares of MTH opened at $164.48 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $159.44 and a two-hundred day moving average price of $148.86. The firm has a market capitalization of $5.95 billion, a P/E ratio of 8.26 and a beta of 1.77. Meritage Homes Co. has a 52 week low of $109.23 and a 52 week high of $179.68.

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

Meritage Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Meritage Homes’s previous quarterly dividend of $0.27. This represents a $3.00 annualized dividend and a dividend yield of 1.82%. Meritage Homes’s dividend payout ratio is currently 15.06%.

Insider Activity

In other news, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total value of $406,975.00. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. In other news, CAO Alison Sasser sold 355 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total value of $54,176.55. Following the completion of the transaction, the chief accounting officer now directly owns 869 shares of the company’s stock, valued at $132,618.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillippe Lord sold 2,500 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The disclosure for this sale can be found here. Insiders sold a total of 3,998 shares of company stock valued at $635,171 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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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