1,441 Shares in Meritage Homes Co. (NYSE:MTH) Bought by Sage Rhino Capital LLC

Sage Rhino Capital LLC purchased a new stake in Meritage Homes Co. (NYSE:MTH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,441 shares of the construction company’s stock, valued at approximately $251,000.

A number of other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Meritage Homes by 30.1% in the fourth quarter. Van ECK Associates Corp now owns 10,423 shares of the construction company’s stock valued at $1,816,000 after acquiring an additional 2,411 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Meritage Homes by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 19,420 shares of the construction company’s stock valued at $3,383,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Meritage Homes during the 4th quarter worth $96,000. Carmel Capital Partners LLC grew its stake in shares of Meritage Homes by 393.9% during the fourth quarter. Carmel Capital Partners LLC now owns 1,551 shares of the construction company’s stock worth $270,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Meritage Homes by 91.6% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MTH has been the subject of a number of recent analyst reports. Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a report on Monday, February 26th. Wedbush reaffirmed an “underperform” rating and issued a $148.00 price target on shares of Meritage Homes in a report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on shares of Meritage Homes from $151.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Seaport Res Ptn downgraded shares of Meritage Homes from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $172.67.

Meritage Homes Stock Performance

Shares of Meritage Homes stock traded down $3.61 during trading on Tuesday, reaching $165.74. The company’s stock had a trading volume of 233,147 shares, compared to its average volume of 405,901. The company has a 50-day moving average price of $159.94 and a two-hundred day moving average price of $153.82. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $179.68. The firm has a market cap of $6.02 billion, a PE ratio of 7.73 and a beta of 1.76. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.21.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $1.52. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.28 billion. On average, analysts forecast that Meritage Homes Co. will post 19.95 EPS for the current year.

Meritage Homes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Thursday, March 14th. This is a boost from Meritage Homes’s previous quarterly dividend of $0.27. Meritage Homes’s dividend payout ratio is 13.99%.

Insiders Place Their Bets

In other news, CAO Alison Sasser sold 355 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total transaction 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 approximately $132,618.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Phillippe Lord sold 2,500 shares of the business’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 transaction of $406,975.00. Following the sale, the chief executive officer now owns 100,266 shares of the company’s stock, valued at approximately $16,322,302.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alison Sasser sold 355 shares of Meritage Homes stock in a transaction 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 transaction, the chief accounting officer now directly owns 869 shares of the company’s stock, valued at $132,618.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,998 shares of company stock worth $635,171. 2.00% of the stock is owned by insiders.

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.