Goldman Sachs Group Inc. Buys 26,682 Shares of Meritage Homes Co. (NYSE:MTH)

Goldman Sachs Group Inc. increased its stake in Meritage Homes Co. (NYSE:MTHFree Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523,332 shares of the construction company’s stock after acquiring an additional 26,682 shares during the period. Goldman Sachs Group Inc. owned about 1.44% of Meritage Homes worth $91,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC lifted its stake in shares of Meritage Homes by 91.6% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after acquiring an additional 98 shares during the last quarter. Parallel Advisors LLC increased its holdings in Meritage Homes by 157.6% during the 4th quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock valued at $41,000 after purchasing an additional 145 shares during the period. Principal Securities Inc. purchased a new position in Meritage Homes during the 4th quarter valued at about $47,000. Daiwa Securities Group Inc. purchased a new position in Meritage Homes during the 4th quarter valued at about $52,000. Finally, GAMMA Investing LLC purchased a new position in Meritage Homes during the 4th quarter valued at about $96,000. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Stock Down 0.4 %

MTH stock opened at $168.62 on Tuesday. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $189.96. The business’s 50 day moving average price is $169.45 and its two-hundred day moving average price is $164.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 7.86 and a beta of 1.78.

Meritage Homes (NYSE:MTHGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $1.52. The firm 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%. As a group, analysts forecast that Meritage Homes Co. will post 20.27 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.78%. Meritage Homes’s payout ratio is currently 13.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MTH shares. Wedbush restated an “underperform” rating and set a $148.00 price target on shares of Meritage Homes in a report on Tuesday, May 21st. StockNews.com upgraded Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Zelman & Associates upgraded Meritage Homes from a “neutral” rating to an “outperform” rating in a report on Monday, February 26th. Finally, Keefe, Bruyette & Woods upped their target price on Meritage Homes from $180.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Meritage Homes presently has a consensus rating of “Hold” and an average price target of $178.25.

Get Our Latest Research Report on MTH

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 100,266 shares in the company, valued at approximately $16,322,302.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Meritage Homes 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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