Meritage Homes Co. (NYSE:MTH) Shares Sold by Semanteon Capital Management LP

Semanteon Capital Management LP lowered its stake in shares of Meritage Homes Co. (NYSE:MTH - Free Report) by 49.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,757 shares of the construction company's stock after selling 3,729 shares during the quarter. Semanteon Capital Management LP's holdings in Meritage Homes were worth $770,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Earnest Partners LLC boosted its holdings in Meritage Homes by 2.5% in the 2nd quarter. Earnest Partners LLC now owns 718,607 shares of the construction company's stock valued at $116,307,000 after purchasing an additional 17,843 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Meritage Homes by 13.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 490,660 shares of the construction company's stock valued at $86,091,000 after purchasing an additional 58,350 shares in the last quarter. Millennium Management LLC boosted its holdings in Meritage Homes by 0.8% in the 2nd quarter. Millennium Management LLC now owns 315,931 shares of the construction company's stock valued at $51,133,000 after purchasing an additional 2,460 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Meritage Homes by 734.4% in the 3rd 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 purchasing an additional 239,511 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Meritage Homes by 5.0% in the 2nd quarter. LSV Asset Management now owns 227,300 shares of the construction company's stock valued at $36,789,000 after purchasing an additional 10,900 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MTH shares. Wolfe Research raised Meritage Homes from a "peer perform" rating to an "outperform" rating and set a $230.00 price objective on the stock in a report on Wednesday, August 14th. Raymond James boosted their price target on Meritage Homes from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price target on Meritage Homes from $219.00 to $221.00 and gave the stock an "outperform" rating in a research note on Monday, July 15th. StockNews.com lowered Meritage Homes from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their price target on Meritage Homes from $173.00 to $197.00 and gave the stock 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $213.83.

Meritage Homes Price Performance

Shares of Meritage Homes stock traded up $1.64 during trading on Monday, hitting $184.48. 404,190 shares of the company were exchanged, compared to its average volume of 404,054. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $213.98. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 8.60 and a beta of 1.80. The firm has a 50 day moving average price of $196.91 and a 200 day moving average price of $181.74.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.75 per share. The ex-dividend date was Monday, September 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.63%. Meritage Homes's dividend payout ratio is currently 13.99%.

Insider Buying and Selling

In related news, CFO Hilla Sferruzza sold 2,500 shares of Meritage Homes stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total transaction of $512,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,570 shares in the company, valued at $9,136,850. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

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.