Geode Capital Management LLC Has $128.09 Million Stock Position in Meritage Homes Co. (NYSE:MTH)

Geode Capital Management LLC decreased its position in Meritage Homes Co. (NYSE:MTH - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 832,525 shares of the construction company's stock after selling 4,438 shares during the period. Geode Capital Management LLC owned approximately 1.15% of Meritage Homes worth $128,087,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Meritage Homes by 545.5% in the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Meritage Homes during the fourth quarter valued at approximately $92,000. Smartleaf Asset Management LLC lifted its position in Meritage Homes by 235.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company's stock worth $104,000 after purchasing an additional 475 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Meritage Homes by 38.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,122 shares of the construction company's stock valued at $173,000 after purchasing an additional 314 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Meritage Homes by 41.9% during the 4th quarter. Corient Private Wealth LLC now owns 1,423 shares of the construction company's stock valued at $219,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 98.44% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently weighed in on MTH shares. Wedbush reaffirmed a "neutral" rating and set a $103.00 target price on shares of Meritage Homes in a research note on Tuesday, February 4th. The Goldman Sachs Group cut their target price on Meritage Homes from $117.50 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price objective on Meritage Homes from $97.00 to $90.00 and set a "market perform" rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of Meritage Homes from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Finally, UBS Group cut their price target on shares of Meritage Homes from $126.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $106.25.

Meritage Homes Stock Down 0.1 %

Shares of Meritage Homes stock traded down $0.07 during trading on Monday, hitting $63.91. 21,057 shares of the stock traded hands, compared to its average volume of 876,272. The stock has a market cap of $4.59 billion, a P/E ratio of 4.89 and a beta of 1.69. The company has a fifty day moving average price of $71.67 and a two-hundred day moving average price of $83.31. Meritage Homes Co. has a twelve month low of $59.27 and a twelve month 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 announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, beating analysts' consensus estimates of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. Equities research analysts predict that Meritage Homes Co. will post 9.44 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.43 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Meritage Homes's previous quarterly dividend of $0.38. Meritage Homes's payout ratio is 13.16%.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 676 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was 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 approximately $427,353.99. This represents a 10.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven J. Hilton acquired 11,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $74.51 per share, with a total value of $819,610.00. Following the completion of the transaction, the chairman now owns 811,192 shares of the company's stock, valued at approximately $60,441,915.92. This trade represents a 1.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 1,683 shares of company stock valued at $122,547 in the last three months. 2.00% of the stock is owned by corporate insiders.

Meritage Homes 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.