Park Avenue Securities LLC Sells 383 Shares of Meritage Homes Co. (NYSE:MTH)

Park Avenue Securities LLC lowered its holdings in Meritage Homes Co. (NYSE:MTH) by 22.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,319 shares of the construction company’s stock after selling 383 shares during the period. Park Avenue Securities LLC’s holdings in Meritage Homes were worth $231,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTH. Lindbrook Capital LLC raised its position in Meritage Homes by 91.6% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock worth $36,000 after acquiring an additional 98 shares during the period. Parallel Advisors LLC increased its holdings in Meritage Homes by 157.6% in the 4th quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock worth $41,000 after acquiring an additional 145 shares during the last quarter. Principal Securities Inc. bought a new stake in Meritage Homes in the 4th quarter valued at about $47,000. Daiwa Securities Group Inc. purchased a new stake in Meritage Homes during the fourth quarter valued at about $52,000. Finally, GAMMA Investing LLC purchased a new stake in Meritage Homes during the fourth quarter valued at about $96,000. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Price Performance

MTH stock opened at $156.15 on Tuesday. The firm has a 50 day moving average of $171.18 and a 200-day moving average of $165.84. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.67 billion, a P/E ratio of 7.28 and a beta of 1.80. Meritage Homes Co. has a 12 month low of $109.23 and a 12 month high of $189.96.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $5.06 EPS for the quarter, beating the consensus estimate of $3.54 by $1.52. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. As a group, sell-side analysts predict that Meritage Homes Co. will post 20.27 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.92%. Meritage Homes’s dividend payout ratio is currently 13.99%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MTH shares. StockNews.com raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods boosted their target price on shares of Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $148.00 price target on shares of Meritage Homes in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.25.

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.