AlphaMark Advisors LLC Decreases Stock Holdings in Meritage Homes Co. (NYSE:MTH)

AlphaMark Advisors LLC lessened its stake in Meritage Homes Co. (NYSE:MTH) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,790 shares of the construction company’s stock after selling 52 shares during the period. AlphaMark Advisors LLC’s holdings in Meritage Homes were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its position in shares of Meritage Homes by 734.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 272,122 shares of the construction company’s stock worth $55,804,000 after buying an additional 239,511 shares during the last quarter. Long Pond Capital LP acquired a new stake in Meritage Homes in the first quarter valued at approximately $32,303,000. Swedbank AB purchased a new position in Meritage Homes in the first quarter worth $25,495,000. Mizuho Markets Americas LLC acquired a new position in shares of Meritage Homes during the second quarter worth $22,887,000. Finally, Boston Partners purchased a new stake in shares of Meritage Homes during the 1st quarter valued at $23,106,000. 98.44% of the stock is currently owned by institutional investors.

Meritage Homes Stock Performance

Shares of NYSE MTH opened at $201.92 on Friday. The company has a 50 day simple moving average of $195.80 and a two-hundred day simple moving average of $180.26. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 9.42 and a beta of 1.80. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.27. Meritage Homes Co. has a 12 month low of $109.23 and a 12 month high of $213.98.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 24th. The construction company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $1.14. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.57 billion. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.02 earnings per share. As a group, analysts predict that Meritage Homes Co. will post 21.09 earnings per share for the current year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, September 16th. Meritage Homes’s dividend payout ratio is currently 13.99%.

Insider Buying and Selling at Meritage Homes

In other news, EVP Javier Feliciano sold 3,000 shares of Meritage Homes stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $198.36, for a total transaction of $595,080.00. Following the completion of the transaction, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at $2,837,936.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Javier Feliciano sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the sale, the executive vice president now owns 14,307 shares in the company, valued at $2,837,936.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $3,111,080. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MTH has been the topic of several research analyst reports. Raymond James boosted their target price on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI upped their price objective on shares of Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group lifted their target price on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Wolfe Research raised shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target for the company in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Meritage Homes presently has a consensus rating of “Hold” and an average target price of $213.83.

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.