KLP Kapitalforvaltning AS Invests $1.15 Million in Meritage Homes Co. (NYSE:MTH)

KLP Kapitalforvaltning AS acquired a new position in Meritage Homes Co. (NYSE:MTH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,500 shares of the construction company's stock, valued at approximately $1,154,000.

A number of other hedge funds have also made changes to their positions in MTH. Sei Investments Co. raised its position in Meritage Homes by 10.2% in the fourth quarter. Sei Investments Co. now owns 47,699 shares of the construction company's stock valued at $7,337,000 after purchasing an additional 4,397 shares during the period. Virtu Financial LLC acquired a new position in Meritage Homes during the 4th quarter worth approximately $850,000. Semanteon Capital Management LP lifted its position in Meritage Homes by 150.2% during the 4th quarter. Semanteon Capital Management LP now owns 9,399 shares of the construction company's stock worth $1,446,000 after acquiring an additional 5,642 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Meritage Homes in the fourth quarter valued at approximately $469,000. Finally, Teacher Retirement System of Texas grew its position in Meritage Homes by 97.4% in the fourth quarter. Teacher Retirement System of Texas now owns 23,802 shares of the construction company's stock valued at $3,661,000 after acquiring an additional 11,747 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTH. The Goldman Sachs Group decreased their target price on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. UBS Group decreased their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $98.50 price target (down previously from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. Finally, 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. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $106.25.

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Insider Activity at Meritage Homes

In related news, COO Clinton Szubinski sold 595 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total transaction of $43,607.55. Following the completion of the transaction, the chief operating officer now owns 30,547 shares in the company, valued at $2,238,789.63. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven J. Hilton acquired 11,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $74.51 per share, with a total value of $819,610.00. Following the completion of the purchase, the chairman now owns 811,192 shares in the company, valued at $60,441,915.92. The trade was a 1.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,683 shares of company stock valued at $122,547 in the last quarter. Insiders own 2.00% of the company's stock.

Meritage Homes Stock Down 6.7 %

Meritage Homes stock traded down $4.80 during midday trading on Thursday, hitting $66.64. The stock had a trading volume of 1,131,066 shares, compared to its average volume of 863,945. The company has a current ratio of 1.61, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $73.99 and a 200 day moving average price of $85.50. Meritage Homes Co. has a 12 month low of $65.75 and a 12 month high of $106.99. The stock has a market cap of $4.79 billion, a P/E ratio of 5.10 and a beta of 1.69.

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

Meritage Homes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Meritage Homes's previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a dividend yield of 2.58%. Meritage Homes's payout ratio is 13.16%.

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.