1,221 Shares in Meritage Homes Co. (NYSE:MTH) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Meritage Homes Co. (NYSE:MTH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,221 shares of the construction company’s stock, valued at approximately $207,000.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted 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 worth $16,707,000 after purchasing an additional 9,128 shares during the last quarter. Occidental Asset Management LLC bought a new position in Meritage Homes during the first quarter valued at about $1,908,000. Comerica Bank increased its stake in Meritage Homes by 5.9% during the first quarter. Comerica Bank now owns 79,358 shares of the construction company’s stock valued at $13,924,000 after acquiring an additional 4,435 shares during the period. LSV Asset Management increased its stake in Meritage Homes by 3.3% during the first quarter. LSV Asset Management now owns 216,400 shares of the construction company’s stock valued at $37,970,000 after acquiring an additional 7,000 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Meritage Homes by 204.5% during the second quarter. Harbor Capital Advisors Inc. now owns 13,378 shares of the construction company’s stock valued at $2,165,000 after acquiring an additional 8,985 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.

Meritage Homes Stock Up 1.0 %

Shares of MTH opened at $204.00 on Monday. The company has a market capitalization of $7.41 billion, a P/E ratio of 9.51 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. Meritage Homes Co. has a one year low of $109.23 and a one year high of $213.98. The business’s 50 day simple moving average is $196.31 and its 200-day simple moving average is $180.60.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.17 by $1.14. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. Meritage Homes’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.02 EPS. As a group, sell-side analysts predict that Meritage Homes Co. will post 21.09 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 16th. Meritage Homes’s payout ratio is currently 13.99%.

Wall Street Analyst Weigh In

MTH has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their price target on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wedbush upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $160.00 to $195.00 in a research note on Tuesday, October 15th. Finally, Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price objective on the stock in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $213.83.

Insiders Place Their Bets

In other Meritage Homes news, EVP Javier Feliciano sold 3,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $198.36, for a total transaction of $595,080.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the transaction, the chief executive officer now owns 90,266 shares of the company’s stock, valued at approximately $18,084,793.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Javier Feliciano sold 3,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the completion of the transaction, the executive vice president now directly owns 14,307 shares in the company, valued at approximately $2,837,936.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $3,111,080. 2.00% of the stock is currently owned by corporate 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.