Ballentine Partners LLC Purchases 2,993 Shares of Meritage Homes Corporation (NYSE:MTH)

Ballentine Partners LLC lifted its position in Meritage Homes Corporation (NYSE:MTH) by 164.4% during the 1st quarter, HoldingsChannel reports. The firm owned 4,814 shares of the construction company’s stock after acquiring an additional 2,993 shares during the quarter. Ballentine Partners LLC’s holdings in Meritage Homes were worth $341,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its holdings in shares of Meritage Homes by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,758 shares of the construction company’s stock worth $578,000 after purchasing an additional 186 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Meritage Homes by 5.8% in the first quarter. Crossmark Global Holdings Inc. now owns 3,439 shares of the construction company’s stock worth $244,000 after purchasing an additional 189 shares during the last quarter. Alpha DNA Investment Management LLC grew its position in Meritage Homes by 6.3% in the fourth quarter. Alpha DNA Investment Management LLC now owns 3,219 shares of the construction company’s stock worth $495,000 after acquiring an additional 190 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Meritage Homes by 100.0% in the first quarter. Salem Investment Counselors Inc. now owns 380 shares of the construction company’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Meritage Homes by 41.7% in the first quarter. Farther Finance Advisors LLC now owns 676 shares of the construction company’s stock worth $48,000 after acquiring an additional 199 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

Meritage Homes Stock Down 4.4%

Shares of NYSE:MTH opened at $69.44 on Wednesday. Meritage Homes Corporation has a 1 year low of $59.27 and a 1 year high of $106.99. The business has a 50 day simple moving average of $67.11 and a two-hundred day simple moving average of $71.80. The firm has a market capitalization of $4.99 billion, a PE ratio of 5.68 and a beta of 1.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.28 and a quick ratio of 2.28.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a net margin of 11.50% and a return on equity of 14.28%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned $5.06 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities analysts predict that Meritage Homes Corporation will post 9.44 EPS for the current year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.43 per share. The ex-dividend date was Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.48%. Meritage Homes’s dividend payout ratio (DPR) is presently 14.06%.

Insider Buying and Selling at Meritage Homes

In related news, Director Joseph Keough purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was purchased at an average price of $66.16 per share, with a total value of $264,640.00. Following the completion of the purchase, the director owned 41,700 shares of the company’s stock, valued at approximately $2,758,872. The trade was a 10.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price target on Meritage Homes from $90.00 to $77.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Wall Street Zen lowered Meritage Homes from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their price target on Meritage Homes from $89.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Bank of America assumed coverage on Meritage Homes in a research report on Monday, May 5th. They issued a “buy” rating and a $82.00 price target for the company. Finally, UBS Group set a $107.00 price target on Meritage Homes in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.13.

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.