Wellington Management Group LLP lessened its stake in shares of Meritage Homes Co. (NYSE:MTH – Free Report) by 24.1% during the fourth quarter, Holdings Channel reports. The fund owned 283,479 shares of the construction company’s stock after selling 89,834 shares during the quarter. Wellington Management Group LLP’s holdings in Meritage Homes were worth $43,605,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MTH. Pinnacle Holdings LLC acquired a new position in shares of Meritage Homes during the 4th quarter valued at $31,000. Allworth Financial LP lifted its position in shares of Meritage Homes by 545.5% during the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Meritage Homes during the 4th quarter valued at $92,000. Smartleaf Asset Management LLC lifted its position in shares of Meritage Homes by 235.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company’s stock valued at $104,000 after acquiring an additional 475 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Meritage Homes during the 4th quarter valued at $130,000. Institutional investors and hedge funds own 98.44% of the company’s stock.
Meritage Homes Stock Performance
MTH opened at $63.94 on Friday. The company’s fifty day moving average price is $67.15 and its two-hundred day moving average price is $76.57. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 4.89 and a beta of 1.50. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, June 16th. Meritage Homes’s payout ratio is currently 14.06%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on MTH shares. Keefe, Bruyette & Woods dropped their target price on shares of Meritage Homes from $90.00 to $77.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Wedbush reiterated a “neutral” rating and set a $103.00 target price on shares of Meritage Homes in a research report on Tuesday, February 4th. Seaport Res Ptn upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price objective on shares of Meritage Homes from $89.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Bank of America assumed coverage on shares of Meritage Homes in a report on Monday, May 5th. They set a “buy” rating and a $82.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.72.
Get Our Latest Stock Report on Meritage Homes
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.
Featured Stories
- Five stocks we like better than Meritage Homes
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Hormel Stock Near Lows, But Tariff Relief Could Boost Outlook
- Insider Trading – What You Need to Know
- 3 Different Ways to Add Gold to Your Portfolio
- Using the MarketBeat Dividend Yield Calculator
- Coca-Cola Stock Has Momentum, PepsiCo May Be the Better Buy
Want to see what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritage Homes Co. (NYSE:MTH – Free Report).
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.