Meritage Homes Co. (NYSE:MTH) Shares Acquired by Vest Financial LLC

Vest Financial LLC increased its stake in shares of Meritage Homes Co. (NYSE:MTH) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,252 shares of the construction company’s stock after purchasing an additional 476 shares during the period. Vest Financial LLC’s holdings in Meritage Homes were worth $1,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Meritage Homes during the third quarter valued at approximately $28,000. Headlands Technologies LLC increased its position in shares of Meritage Homes by 1,033.3% during the second quarter. Headlands Technologies LLC now owns 272 shares of the construction company’s stock worth $44,000 after purchasing an additional 248 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Meritage Homes in the 2nd quarter valued at $61,000. Picton Mahoney Asset Management purchased a new position in Meritage Homes in the 2nd quarter valued at $64,000. Finally, CWM LLC boosted its stake in Meritage Homes by 15.5% during the 3rd quarter. CWM LLC now owns 433 shares of the construction company’s stock worth $89,000 after purchasing an additional 58 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Stock Performance

Shares of Meritage Homes stock opened at $204.00 on Monday. The business’s fifty day simple moving average is $196.31 and its 200-day simple moving average is $180.60. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.41 billion, a PE ratio of 9.51 and a beta of 1.80. Meritage Homes Co. has a 52 week low of $109.23 and a 52 week high of $213.98.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.17 by $1.14. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.57 billion. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. Meritage Homes’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $5.02 earnings per share. Equities analysts forecast that Meritage Homes Co. will post 21.09 earnings per share for the current year.

Meritage Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is 13.99%.

Insider Transactions at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the sale, the chief financial officer now owns 44,570 shares in the company, valued at approximately $9,136,850. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Javier Feliciano sold 3,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $198.36, for a total transaction of $595,080.00. Following the sale, the executive vice president now owns 14,307 shares of the company’s stock, valued at approximately $2,837,936.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hilla Sferruzza sold 2,500 shares of Meritage Homes stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the completion of the transaction, the chief financial officer now owns 44,570 shares of the company’s stock, valued at $9,136,850. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $3,111,080 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wolfe Research raised shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price on the stock in a research note on Wednesday, August 14th. Raymond James upped their price target on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price objective on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Meritage Homes currently has an average rating of “Hold” and a consensus price target of $213.83.

Meritage Homes Company Profile

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.