Diversified Trust Co Sells 2,187 Shares of Meritage Homes Co. (NYSE:MTH)

Diversified Trust Co reduced its stake in Meritage Homes Co. (NYSE:MTH) by 52.1% during the 1st quarter, HoldingsChannel reports. The firm owned 2,009 shares of the construction company’s stock after selling 2,187 shares during the quarter. Diversified Trust Co’s holdings in Meritage Homes were worth $352,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Meritage Homes by 91.6% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after purchasing an additional 98 shares during the period. Parallel Advisors LLC grew its stake in shares of Meritage Homes by 157.6% in the 4th quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock valued at $41,000 after purchasing an additional 145 shares during the period. Principal Securities Inc. bought a new stake in shares of Meritage Homes in the 4th quarter valued at approximately $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Meritage Homes in the 4th quarter valued at approximately $52,000. Finally, GAMMA Investing LLC bought a new stake in shares of Meritage Homes in the 4th quarter valued at approximately $96,000. 98.44% of the stock is currently owned by institutional investors.

Meritage Homes Stock Up 0.7 %

NYSE:MTH opened at $155.64 on Friday. The stock’s fifty day moving average price is $170.94 and its two-hundred day moving average price is $165.58. Meritage Homes Co. has a 52-week low of $109.23 and a 52-week high of $189.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 7.26 and a beta of 1.80.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $1.52. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.28 billion. On average, analysts anticipate that Meritage Homes Co. will post 20.27 EPS for the current year.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, June 14th. Meritage Homes’s dividend payout ratio is 13.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com upgraded Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wedbush restated an “underperform” rating and set a $148.00 price target on shares of Meritage Homes in a research report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods increased their price target on Meritage Homes from $180.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Meritage Homes currently has a consensus rating of “Hold” and an average target price of $178.25.

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.