Meritage Homes Co. (NYSE:MTH) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Meritage Homes Co. (NYSE:MTH) by 56.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,800 shares of the construction company’s stock after buying an additional 28,700 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Meritage Homes worth $12,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Meritage Homes in the 4th quarter worth $101,695,000. Groupama Asset Managment purchased a new position in Meritage Homes during the fourth quarter worth about $76,910,000. Victory Capital Management Inc. lifted its position in Meritage Homes by 2,199.9% in the fourth quarter. Victory Capital Management Inc. now owns 305,605 shares of the construction company’s stock valued at $47,008,000 after purchasing an additional 292,317 shares during the period. Hennessy Advisors Inc. purchased a new stake in Meritage Homes in the 4th quarter valued at approximately $43,147,000. Finally, WINTON GROUP Ltd increased its position in Meritage Homes by 1,597.6% during the 4th quarter. WINTON GROUP Ltd now owns 84,610 shares of the construction company’s stock worth $13,015,000 after purchasing an additional 79,626 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Price Performance

Meritage Homes stock opened at $64.07 on Wednesday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 4.90 and a beta of 1.69. Meritage Homes Co. has a 12-month low of $59.27 and a 12-month high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. The firm’s 50-day moving average is $71.17 and its two-hundred day moving average is $82.91.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. Equities analysts predict that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.43 per share. The ex-dividend date was Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. Meritage Homes’s dividend payout ratio is currently 13.16%.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 676 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28. Following the transaction, the chief accounting officer now owns 5,933 shares of the company’s stock, valued at $427,353.99. This trade represents a 10.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Clinton Szubinski sold 595 shares of the business’s stock in a transaction 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 directly owns 30,547 shares of the company’s stock, valued at $2,238,789.63. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,683 shares of company stock worth $122,547 in the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTH shares. UBS Group decreased their price target on Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wedbush reaffirmed a “neutral” rating and set a $103.00 price target on shares of Meritage Homes in a research note on Tuesday, February 4th. Seaport Res Ptn upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. The Goldman Sachs Group dropped their target price on shares of Meritage Homes from $117.50 to $100.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com lowered Meritage Homes from a “hold” rating to a “sell” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.25.

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.