Meritage Homes Co. (NYSE:MTH) Holdings Raised by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in shares of Meritage Homes Co. (NYSE:MTH) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,516 shares of the construction company’s stock after purchasing an additional 143 shares during the period. Ballentine Partners LLC’s holdings in Meritage Homes were worth $311,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ausbil Investment Management Ltd purchased a new stake in shares of Meritage Homes during the third quarter valued at $216,000. Moody Aldrich Partners LLC lifted its holdings in shares of Meritage Homes by 6.9% during the third quarter. Moody Aldrich Partners LLC now owns 30,505 shares of the construction company’s stock valued at $6,256,000 after purchasing an additional 1,979 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Meritage Homes by 125.2% during the third quarter. Signaturefd LLC now owns 509 shares of the construction company’s stock valued at $104,000 after purchasing an additional 283 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Meritage Homes by 32.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 47,546 shares of the construction company’s stock valued at $9,750,000 after purchasing an additional 11,558 shares during the last quarter. Finally, Vest Financial LLC lifted its holdings in shares of Meritage Homes by 7.0% during the third quarter. Vest Financial LLC now owns 7,252 shares of the construction company’s stock valued at $1,487,000 after purchasing an additional 476 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTH. Evercore ISI upped their target price on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group upped their price target on Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Raymond James upped their price target on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Meritage Homes currently has a consensus rating of “Hold” and a consensus price target of $213.83.

Insiders Place Their Bets

In other Meritage Homes news, CFO Hilla Sferruzza sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the transaction, the chief financial officer now directly owns 44,570 shares of the company’s stock, valued at $9,136,850. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Meritage Homes Stock Performance

Shares of MTH stock opened at $184.48 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $213.98. The stock’s 50-day moving average is $196.91 and its two-hundred day moving average is $181.74. The firm has a market cap of $6.70 billion, a P/E ratio of 8.60 and a beta of 1.80.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s payout ratio is currently 13.99%.

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.