Assenagon Asset Management S.A. Cuts Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Assenagon Asset Management S.A. trimmed its position in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,725 shares of the construction company’s stock after selling 2,005 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Meritage Homes were worth $2,565,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Artemis Investment Management LLP increased its holdings in shares of Meritage Homes by 32.4% during the 4th quarter. Artemis Investment Management LLP now owns 232,936 shares of the construction company’s stock valued at $40,576,000 after purchasing an additional 56,965 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Meritage Homes by 22.5% in the 4th quarter. Pacer Advisors Inc. now owns 779,549 shares of the construction company’s stock worth $135,797,000 after acquiring an additional 143,440 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Meritage Homes in the 4th quarter worth $407,000. SG Americas Securities LLC purchased a new stake in Meritage Homes in the 4th quarter worth $1,732,000. Finally, Radnor Capital Management LLC increased its holdings in Meritage Homes by 137.1% in the 4th quarter. Radnor Capital Management LLC now owns 5,310 shares of the construction company’s stock worth $925,000 after acquiring an additional 3,070 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTH shares. Wedbush lowered shares of Meritage Homes from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $155.00 to $148.00 in a report on Tuesday. Zelman & Associates raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating in a report on Monday, February 26th. Seaport Res Ptn lowered shares of Meritage Homes from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. The Goldman Sachs Group upped their target price on shares of Meritage Homes from $151.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Finally, StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.67.

Get Our Latest Report on MTH

Insider Buying and Selling at Meritage Homes

In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total value of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total value of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Alison Sasser sold 231 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $152.99, for a total transaction of $35,340.69. Following the completion of the transaction, the chief accounting officer now directly owns 1,859 shares in the company, valued at approximately $284,408.41. The disclosure for this sale can be found here. Insiders have sold 3,998 shares of company stock valued at $635,171 over the last 90 days. 1.80% of the stock is owned by insiders.

Meritage Homes Trading Up 0.9 %

Shares of MTH stock opened at $164.48 on Thursday. The company’s 50-day moving average price is $159.44 and its 200-day moving average price is $148.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 8.26 and a beta of 1.77. Meritage Homes Co. has a twelve month low of $109.23 and a twelve month high of $179.68.

Meritage Homes (NYSE:MTHGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The construction company reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.20. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Meritage Homes had a net margin of 12.03% and a return on equity of 17.03%. As a group, equities analysts predict that Meritage Homes Co. will post 17.72 earnings per share for the current year.

Meritage Homes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.82%. This is a boost from Meritage Homes’s previous quarterly dividend of $0.27. Meritage Homes’s dividend payout ratio is presently 15.06%.

Meritage Homes Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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