Two Sigma Advisers LP purchased a new position in Meritage Homes Co. (NYSE:MTH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,647 shares of the construction company’s stock, valued at approximately $340,000.
A number of other hedge funds also recently added to or reduced their stakes in MTH. Virtu Financial LLC purchased a new position in Meritage Homes in the 4th quarter worth approximately $240,000. BlueCrest Capital Management Ltd purchased a new position in Meritage Homes in the 4th quarter worth approximately $319,000. Connable Office Inc. grew its stake in Meritage Homes by 23.2% in the 4th quarter. Connable Office Inc. now owns 7,482 shares of the construction company’s stock worth $383,000 after buying an additional 1,407 shares in the last quarter. Parametrica Management Ltd purchased a new position in Meritage Homes in the 4th quarter worth approximately $458,000. Finally, Fox Run Management L.L.C. purchased a new position in Meritage Homes in the 4th quarter worth approximately $460,000. 95.24% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Hilla Sferruzza sold 589 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total transaction of $26,622.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Phillippe Lord sold 5,009 shares of the company’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $43.40, for a total transaction of $217,390.60. Following the sale, the insider now owns 7,882 shares of the company’s stock, valued at $342,078.80. The disclosure for this sale can be found here. Insiders have sold a total of 25,968 shares of company stock valued at $1,149,987 over the last quarter. 5.60% of the stock is currently owned by company insiders.
Shares of Meritage Homes stock opened at $42.75 on Monday. Meritage Homes Co. has a 52-week low of $37.70 and a 52-week high of $55.50. The firm has a market capitalization of $1,724.15, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.87.
Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.09. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The company had revenue of $946.40 million during the quarter, compared to analyst estimates of $932.94 million. During the same period in the prior year, the business posted $1.22 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. equities research analysts forecast that Meritage Homes Co. will post 5.06 EPS for the current year.
A number of equities research analysts have recently issued reports on MTH shares. ValuEngine cut shares of Meritage Homes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, January 8th. Zacks Investment Research raised shares of Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Thursday, February 1st. Barclays raised shares of Meritage Homes from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Meritage Homes in a research note on Wednesday, March 21st. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.45.
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Meritage Homes Profile
Meritage Homes Corporation designs and builds single-family 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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.
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