BOS Asset Management LLC Has $1 Million Position in Meritage Homes Co. (NYSE:MTH)

BOS Asset Management LLC increased its stake in shares of Meritage Homes Co. (NYSE:MTH) by 25.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,874 shares of the construction company’s stock after purchasing an additional 979 shares during the quarter. BOS Asset Management LLC’s holdings in Meritage Homes were worth $1,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTH. Occidental Asset Management LLC increased its holdings in Meritage Homes by 4.9% in the 3rd quarter. Occidental Asset Management LLC now owns 12,167 shares of the construction company’s stock worth $2,495,000 after purchasing an additional 572 shares in the last quarter. Creative Planning increased its stake in shares of Meritage Homes by 31.1% in the third quarter. Creative Planning now owns 13,113 shares of the construction company’s stock valued at $2,689,000 after buying an additional 3,107 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Meritage Homes by 734.4% in the third quarter. Wedge Capital Management L L P NC now owns 272,122 shares of the construction company’s stock valued at $55,804,000 after buying an additional 239,511 shares during the period. CWM LLC raised its holdings in Meritage Homes by 15.5% in the 3rd quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after buying an additional 58 shares during the last quarter. Finally, Diversified Trust Co boosted its position in Meritage Homes by 62.3% during the 3rd quarter. Diversified Trust Co now owns 5,990 shares of the construction company’s stock worth $1,228,000 after buying an additional 2,300 shares during the period. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Price Performance

MTH stock opened at $203.28 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. The company’s 50-day moving average is $195.33 and its 200-day moving average is $180.11. The stock has a market capitalization of $7.38 billion, a PE ratio of 9.48 and a beta of 1.80. Meritage Homes Co. has a 1 year low of $109.23 and a 1 year high of $213.98.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $1.14. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.02 earnings per share. Equities research analysts expect that Meritage Homes Co. will post 21.09 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s dividend payout ratio is currently 13.99%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush upgraded shares of Meritage Homes from an “underperform” rating to a “neutral” rating and upped their price target for the company from $160.00 to $195.00 in a research report on Tuesday. Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price objective for the company in a research report on Wednesday, August 14th. Evercore ISI upped their target price on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their price objective on Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $213.83.

Insider Transactions at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total value of $512,500.00. Following the transaction, the chief financial officer now owns 44,570 shares of the company’s stock, valued at approximately $9,136,850. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,570 shares of the company’s stock, valued at approximately $9,136,850. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Javier Feliciano sold 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the transaction, the executive vice president now owns 14,307 shares in the company, valued at approximately $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. Insiders sold a total of 15,500 shares of company stock valued at $3,111,080 over the last three months. Corporate insiders own 2.00% 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.