Envestnet Asset Management Inc. Purchases 5,116 Shares of Meritage Homes Co. (NYSE:MTH)

Envestnet Asset Management Inc. increased its position in Meritage Homes Co. (NYSE:MTH) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,678 shares of the construction company’s stock after purchasing an additional 5,116 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Meritage Homes worth $21,960,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Meritage Homes by 10.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 95,218 shares of the construction company’s stock valued at $16,707,000 after acquiring an additional 9,128 shares in the last quarter. US Bancorp DE lifted its stake in Meritage Homes by 140.2% during the fourth quarter. US Bancorp DE now owns 10,482 shares of the construction company’s stock worth $1,826,000 after purchasing an additional 6,119 shares during the period. Occidental Asset Management LLC acquired a new stake in Meritage Homes during the first quarter valued at approximately $1,908,000. Comerica Bank grew its stake in shares of Meritage Homes by 5.9% in the 1st quarter. Comerica Bank now owns 79,358 shares of the construction company’s stock valued at $13,924,000 after purchasing an additional 4,435 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Meritage Homes by 3.3% in the 1st quarter. LSV Asset Management now owns 216,400 shares of the construction company’s stock worth $37,970,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Insider Buying and Selling at Meritage Homes

In other Meritage Homes news, CEO Phillippe Lord sold 10,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the completion of the sale, the chief executive officer now owns 90,266 shares in the company, valued at approximately $18,084,793.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Phillippe Lord sold 10,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $200.35, for a total value of $2,003,500.00. Following the completion of the sale, the chief executive officer now owns 90,266 shares in the company, valued at $18,084,793.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hilla Sferruzza sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the transaction, the chief financial officer now owns 44,570 shares in the company, valued at approximately $9,136,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock valued at $3,111,080. 2.00% of the stock is currently owned by insiders.

Meritage Homes Stock Performance

MTH stock opened at $203.33 on Monday. The company has a 50 day moving average price of $192.42 and a 200 day moving average price of $175.58. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $213.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. The stock has a market capitalization of $7.38 billion, a PE ratio of 9.48 and a beta of 1.80.

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

Meritage Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.75 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.00 annualized dividend and a yield of 1.48%. Meritage Homes’s dividend payout ratio is currently 13.99%.

Analyst Upgrades and Downgrades

MTH has been the topic of a number of analyst reports. Wedbush upped their price target on Meritage Homes from $148.00 to $160.00 and gave the company an “underperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Wolfe Research upgraded shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target on the stock in a research report on Wednesday, August 14th. Raymond James raised their price objective on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Meritage Homes 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.