Meritage Homes Co. (NYSE:MTH) Short Interest Up 14.3% in January

Meritage Homes Co. (NYSE:MTH) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,110,000 shares, a growth of 14.3% from the January 15th total of 2,720,000 shares. Based on an average trading volume of 938,200 shares, the days-to-cover ratio is currently 3.3 days.

Meritage Homes Price Performance

Shares of MTH stock traded up $0.25 during mid-day trading on Monday, hitting $73.75. The company had a trading volume of 632,167 shares, compared to its average volume of 947,194. The company has a market capitalization of $5.34 billion, a P/E ratio of 5.64 and a beta of 1.88. The stock’s 50 day moving average price is $81.95 and its 200-day moving average price is $90.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. Meritage Homes has a 52-week low of $72.19 and a 52-week high of $106.99.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. Equities research analysts forecast that Meritage Homes will post 10.02 earnings per share for the current year.

Meritage Homes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, December 17th. Meritage Homes’s payout ratio is 11.47%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday, January 11th. UBS Group lowered their price target on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on shares of Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $98.50 price target (down previously from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. Finally, Wedbush reaffirmed a “neutral” rating and set a $103.00 price target on shares of Meritage Homes in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.25.

Insider Transactions at Meritage Homes

In other Meritage Homes news, Chairman Steven J. Hilton bought 11,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $74.51 per share, for a total transaction of $819,610.00. Following the completion of the transaction, the chairman now owns 811,192 shares of the company’s stock, valued at $60,441,915.92. This represents a 1.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Clinton Szubinski sold 595 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $73.29, for a total transaction of $43,607.55. Following the sale, the chief operating officer now owns 30,547 shares of the company’s stock, valued at $2,238,789.63. This trade represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Meritage Homes

A number of hedge funds have recently bought and sold shares of the business. Ethic Inc. increased its position in Meritage Homes by 49.6% during the fourth quarter. Ethic Inc. now owns 2,452 shares of the construction company’s stock valued at $377,000 after acquiring an additional 813 shares during the last quarter. Crestline Management LP bought a new position in Meritage Homes during the fourth quarter valued at $8,108,000. Centiva Capital LP bought a new position in Meritage Homes during the fourth quarter valued at $2,191,000. Baird Financial Group Inc. increased its position in Meritage Homes by 8.0% during the fourth quarter. Baird Financial Group Inc. now owns 78,743 shares of the construction company’s stock valued at $12,112,000 after acquiring an additional 5,857 shares during the last quarter. Finally, Bayesian Capital Management LP increased its position in Meritage Homes by 35.4% during the fourth quarter. Bayesian Capital Management LP now owns 7,648 shares of the construction company’s stock valued at $1,176,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.