180 Wealth Advisors LLC Reduces Stake in Meritage Homes Co. (NYSE:MTH)

180 Wealth Advisors LLC lowered its position in shares of Meritage Homes Co. (NYSE:MTH) by 11.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,414 shares of the construction company’s stock after selling 562 shares during the period. 180 Wealth Advisors LLC’s holdings in Meritage Homes were worth $774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC boosted its position in shares of Meritage Homes by 64.6% during the 3rd quarter. HighTower Advisors LLC now owns 3,617 shares of the construction company’s stock valued at $439,000 after acquiring an additional 1,420 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Meritage Homes by 43.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 118,638 shares of the construction company’s stock worth $14,520,000 after acquiring an additional 35,849 shares during the last quarter. Mariner LLC grew its position in Meritage Homes by 9.7% in the third quarter. Mariner LLC now owns 3,726 shares of the construction company’s stock worth $456,000 after acquiring an additional 330 shares in the last quarter. Trexquant Investment LP bought a new position in Meritage Homes in the third quarter valued at $2,096,000. Finally, Nomura Holdings Inc. purchased a new stake in Meritage Homes during the third quarter valued at about $3,243,000. Institutional investors own 98.44% of the company’s stock.

Analyst Ratings Changes

MTH has been the topic of several recent research reports. Wedbush reiterated an “underperform” rating and set a $148.00 price objective on shares of Meritage Homes in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Meritage Homes presently has an average rating of “Hold” and a consensus price target of $178.25.

Meritage Homes Trading Down 0.0 %

Shares of Meritage Homes stock traded down $0.03 during trading on Thursday, reaching $162.15. 302,864 shares of the stock were exchanged, compared to its average volume of 420,668. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 7.56 and a beta of 1.78. Meritage Homes Co. has a 1 year low of $109.23 and a 1 year high of $189.96. The stock’s fifty day moving average is $170.87 and its 200 day moving average is $165.86.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $3.54 by $1.52. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. As a group, equities research analysts expect that Meritage Homes Co. will post 20.27 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.00 annualized dividend and a yield of 1.85%. Meritage Homes’s dividend payout ratio (DPR) is presently 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.