4D Advisors LLC Takes Position in Meritage Homes Co. (NYSE:MTH)

4D Advisors LLC acquired a new position in Meritage Homes Co. (NYSE:MTH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,000 shares of the construction company’s stock, valued at approximately $3,076,000. Meritage Homes comprises approximately 2.1% of 4D Advisors LLC’s investment portfolio, making the stock its 23rd largest position.

Several other large investors have also recently bought and sold shares of MTH. Norges Bank bought a new stake in shares of Meritage Homes during the fourth quarter worth approximately $101,695,000. Groupama Asset Managment bought a new stake in shares of Meritage Homes during the 4th quarter valued at $76,910,000. Victory Capital Management Inc. raised its position in shares of Meritage Homes by 2,199.9% during the 4th quarter. Victory Capital Management Inc. now owns 305,605 shares of the construction company’s stock valued at $47,008,000 after acquiring an additional 292,317 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Meritage Homes in the 4th quarter valued at $43,147,000. Finally, First Trust Advisors LP boosted its position in shares of Meritage Homes by 61.6% in the 4th quarter. First Trust Advisors LP now owns 571,120 shares of the construction company’s stock worth $87,850,000 after purchasing an additional 217,618 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Insider Buying and Selling

In related news, COO Clinton Szubinski sold 595 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total transaction of $43,607.55. Following the completion of the transaction, the chief operating officer now directly owns 30,547 shares of the company’s stock, valued at approximately $2,238,789.63. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alison Sasser sold 676 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $72.03, for a total value of $48,692.28. Following the transaction, the chief accounting officer now directly owns 5,933 shares in the company, valued at $427,353.99. This trade represents a 10.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,683 shares of company stock worth $122,547. 2.20% of the stock is owned by insiders.

Meritage Homes Price Performance

Shares of NYSE MTH opened at $66.93 on Friday. The company has a fifty day moving average price of $69.48 and a 200 day moving average price of $80.34. The firm has a market cap of $4.81 billion, a PE ratio of 5.12 and a beta of 1.69. The company has a current ratio of 1.61, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. Meritage Homes Co. has a 1-year low of $59.27 and a 1-year high of $106.99.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $5.06 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Research analysts predict that Meritage Homes Co. will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.57%. Meritage Homes’s dividend payout ratio (DPR) is 14.06%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MTH shares. StockNews.com downgraded Meritage Homes from a “hold” rating to a “sell” rating in a report on Monday, March 24th. The Goldman Sachs Group lowered their price target on Meritage Homes from $117.50 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wedbush restated a “neutral” rating and set a $103.00 price objective on shares of Meritage Homes in a report on Tuesday, February 4th. UBS Group set a $107.00 target price on shares of Meritage Homes in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Meritage Homes from $89.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $99.69.

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.