Virtu Financial LLC Makes New Investment in Meritage Homes Co. (NYSE:MTH)

Virtu Financial LLC acquired a new stake in Meritage Homes Co. (NYSE:MTH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,528 shares of the construction company's stock, valued at approximately $850,000.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in Meritage Homes by 2,199.9% in the fourth quarter. Victory Capital Management Inc. now owns 305,605 shares of the construction company's stock worth $47,008,000 after buying an additional 292,317 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Meritage Homes in the 4th quarter worth about $43,147,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Meritage Homes during the 3rd quarter worth about $44,029,000. Point72 Asset Management L.P. bought a new position in Meritage Homes during the 3rd quarter valued at about $36,365,000. Finally, FMR LLC raised its position in Meritage Homes by 75.1% in 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 during the period. 98.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MTH has been the topic of a number of analyst reports. StockNews.com cut Meritage Homes from a "hold" rating to a "sell" rating in a research note on Monday. Seaport Res Ptn raised Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group decreased their target price on Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price target on shares of Meritage Homes from $97.00 to $90.00 and set a "market perform" rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $98.50 price objective (down previously from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $106.25.

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Insiders Place Their Bets

In other Meritage Homes news, Chairman Steven J. Hilton purchased 11,000 shares of Meritage Homes stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $74.51 per share, with a total value of $819,610.00. Following the transaction, the chairman now owns 811,192 shares of the company's stock, valued at $60,441,915.92. This represents a 1.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alison Sasser sold 676 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28. Following the completion of the sale, the chief accounting officer now directly owns 5,933 shares in the company, valued at $427,353.99. This trade represents a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,683 shares of company stock valued at $122,547. Insiders own 2.00% of the company's stock.

Meritage Homes Stock Down 3.2 %

MTH stock traded down $2.29 during trading on Friday, hitting $70.36. 498,170 shares of the company's stock traded hands, compared to its average volume of 861,870. The firm has a market capitalization of $5.05 billion, a P/E ratio of 5.38 and a beta of 1.92. Meritage Homes Co. has a 1 year low of $68.93 and a 1 year high of $106.99. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $75.10 and a two-hundred day simple moving average of $86.44.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share (EPS) for the quarter, beating 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 anticipate that Meritage Homes Co. will post 9.44 EPS for the current year.

Meritage Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.44%. This is an increase from Meritage Homes's previous quarterly dividend of $0.38. Meritage Homes's dividend 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.