Edgestream Partners L.P. Makes New $5.82 Million Investment in Meritage Homes Co. (NYSE:MTH)

Edgestream Partners L.P. bought a new stake in Meritage Homes Co. (NYSE:MTH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 37,856 shares of the construction company's stock, valued at approximately $5,823,000. Edgestream Partners L.P. owned approximately 0.05% of Meritage Homes at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTH. Victory Capital Management Inc. grew its holdings in shares of Meritage Homes by 2,199.9% in the 4th quarter. Victory Capital Management Inc. now owns 305,605 shares of the construction company's stock valued at $47,008,000 after acquiring an additional 292,317 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Meritage Homes in the fourth quarter valued at approximately $43,147,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Meritage Homes during the 3rd quarter worth approximately $44,029,000. Point72 Asset Management L.P. bought a new stake in shares of Meritage Homes during the 3rd quarter worth approximately $36,365,000. Finally, FMR LLC raised its stake in shares of Meritage Homes by 75.1% during the 3rd quarter. FMR LLC now owns 347,227 shares of the construction company's stock worth $71,206,000 after purchasing an additional 148,898 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Meritage Homes from a "sell" rating to a "hold" rating in a report on Tuesday, March 4th. Wedbush restated a "neutral" rating and set a $103.00 price objective on shares of Meritage Homes in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $98.50 target price (down from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. The Goldman Sachs Group reduced their price target on Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Meritage Homes presently has a consensus rating of "Hold" and an average target price of $106.25.

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Meritage Homes Stock Performance

Shares of NYSE MTH traded down $0.31 during trading hours on Tuesday, reaching $74.49. 902,983 shares of the stock were exchanged, compared to its average volume of 985,265. The stock's fifty day simple moving average is $79.44 and its 200 day simple moving average is $88.70. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 5.70 and a beta of 1.92. Meritage Homes Co. has a 52 week low of $69.26 and a 52 week high of $106.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61.

Meritage Homes (NYSE:MTH - Get Free Report) last posted its earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share for the quarter, topping analysts' consensus estimates of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. Sell-side analysts predict that Meritage Homes Co. will post 9.44 EPS for the current year.

Meritage Homes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.43 dividend. This is a boost from Meritage Homes's previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, March 17th. Meritage Homes's payout ratio is 13.16%.

Insider Transactions at Meritage Homes

In other news, CAO Alison Sasser sold 676 shares of Meritage Homes stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $72.03, for a total value of $48,692.28. Following the transaction, the chief accounting officer now owns 5,933 shares in the company, valued at approximately $427,353.99. This trade represents a 10.23 % decrease in their position. The sale 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 dated Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total value of $43,607.55. Following the transaction, the chief operating officer now directly owns 30,547 shares of the company's stock, valued at approximately $2,238,789.63. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,683 shares of company stock valued at $122,547. 2.00% of the stock is owned by corporate insiders.

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.