Mach 1 Financial Group LLC Takes Position in Meritage Homes Co. (NYSE:MTH)

Mach 1 Financial Group LLC acquired a new position in Meritage Homes Co. (NYSE:MTH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,581 shares of the construction company’s stock, valued at approximately $275,000.

Several other institutional investors have also added to or reduced their stakes in MTH. Evergreen Capital Management LLC raised its position in Meritage Homes by 3.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,380 shares of the construction company’s stock worth $291,000 after buying an additional 77 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Meritage Homes by 91.6% during the 4th 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 period. First Trust Direct Indexing L.P. increased its position in Meritage Homes by 6.2% during the third quarter. First Trust Direct Indexing L.P. now owns 1,979 shares of the construction company’s stock valued at $242,000 after acquiring an additional 116 shares during the last quarter. Advisor Partners II LLC lifted its stake in shares of Meritage Homes by 5.2% in the 3rd quarter. Advisor Partners II LLC now owns 2,438 shares of the construction company’s stock worth $298,000 after purchasing an additional 120 shares during the period. Finally, Great Lakes Advisors LLC raised its position in Meritage Homes by 3.3% in the third quarter. Great Lakes Advisors LLC now owns 4,308 shares of the construction company’s stock worth $527,000 after acquiring an additional 136 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Stock Up 0.5 %

Shares of MTH stock opened at $166.56 on Thursday. The stock has a market cap of $6.05 billion, a P/E ratio of 7.77 and a beta of 1.75. The company’s fifty day simple moving average is $160.24 and its two-hundred day simple moving average is $154.19. The company has a quick ratio of 1.77, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Meritage Homes Co. has a 52 week low of $109.23 and a 52 week high of $179.68.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $3.54 by $1.52. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. Analysts predict that Meritage Homes Co. will post 20.55 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.80%. This is an increase from Meritage Homes’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, March 14th. Meritage Homes’s dividend payout ratio is presently 13.99%.

Insider Activity at Meritage Homes

In related news, CAO Alison Sasser sold 355 shares of the firm’s 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Clinton Szubinski sold 797 shares of Meritage Homes stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $152.62, for a total value of $121,638.14. Following the completion of the sale, the chief operating officer now directly owns 5,234 shares in the company, valued at $798,813.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alison Sasser sold 355 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total transaction of $54,176.55. Following the transaction, the chief accounting officer now owns 869 shares in the company, valued at $132,618.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,998 shares of company stock worth $635,171. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Meritage Homes

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.