American International Group Inc. Sells 155 Shares of Meritage Homes Co. (NYSE:MTH)

Posted by on Jun 7th, 2023

American International Group Inc. trimmed its stake in shares of Meritage Homes Co. (NYSE:MTH – Get Rating) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,761 shares of the construction company’s stock after selling 155 shares during the period. American International Group Inc. owned approximately 0.05% of Meritage Homes worth $1,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TFO TDC LLC bought a new stake in Meritage Homes in the 4th quarter worth approximately $25,000. Quantbot Technologies LP bought a new position in Meritage Homes in the first quarter valued at about $48,000. Ronald Blue Trust Inc. boosted its position in Meritage Homes by 63.2% in the fourth quarter. Ronald Blue Trust Inc. now owns 777 shares of the construction company’s stock worth $54,000 after purchasing an additional 301 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Meritage Homes by 69.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,097 shares of the construction company’s stock valued at $77,000 after purchasing an additional 450 shares during the period. Finally, Covestor Ltd increased its position in shares of Meritage Homes by 108.3% during the 1st quarter. Covestor Ltd now owns 1,337 shares of the construction company’s stock valued at $106,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

Analysts Set New Price Targets

MTH has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Meritage Homes in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Meritage Homes in a research report on Wednesday, May 31st. They set a “buy” rating for the company. StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Wedbush restated an “outperform” rating and issued a $132.00 price target on shares of Meritage Homes in a research report on Wednesday, April 12th. Finally, JPMorgan Chase & Co. raised shares of Meritage Homes from a “neutral” rating to an “overweight” rating and set a $129.00 target price for the company in a report on Monday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Meritage Homes has an average rating of “Moderate Buy” and an average target price of $115.14.

Insider Activity at Meritage Homes

In other Meritage Homes news, CEO Phillippe Lord sold 3,900 shares of Meritage Homes stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $126.03, for a total value of $491,517.00. Following the sale, the chief executive officer now owns 42,760 shares of the company’s stock, valued at approximately $5,389,042.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Gerald W. Haddock sold 2,000 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $124.64, for a total value of $249,280.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $747,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phillippe Lord sold 3,900 shares of Meritage Homes stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $126.03, for a total value of $491,517.00. Following the completion of the transaction, the chief executive officer now owns 42,760 shares of the company’s stock, valued at approximately $5,389,042.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,400 shares of company stock valued at $926,077. Insiders own 1.80% of the company’s stock.

Meritage Homes Trading Up 5.7 %

Shares of MTH opened at $128.75 on Wednesday. The firm has a market cap of $4.71 billion, a P/E ratio of 5.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.89 and a quick ratio of 1.89. Meritage Homes Co. has a 1 year low of $62.51 and a 1 year high of $130.68. The company has a 50 day simple moving average of $121.63 and a two-hundred day simple moving average of $108.22.

Meritage Homes (NYSE:MTH – Get Rating) last posted its earnings results on Wednesday, April 26th. The construction company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.51 by $1.03. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Meritage Homes had a net margin of 14.44% and a return on equity of 23.99%. Meritage Homes’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $5.79 earnings per share. On average, equities analysts expect that Meritage Homes Co. will post 15.53 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Wednesday, June 14th. Meritage Homes’s payout ratio is presently 4.41%.

Meritage Homes Company Profile

(Get Rating)

Meritage Homes Corp. engages in the design and construction of single family attached and detached homes. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment acquires and develops lands, constructs homes, markets and sells those homes, and provides warranty and customer services.

Featured Articles

Want to see what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritage Homes Co. (NYSE:MTH – Get Rating).

Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.