Jacobs Levy Equity Management Inc. Acquires 281,773 Shares of Meritage Homes Co. (NYSE:MTH)

Jacobs Levy Equity Management Inc. increased its holdings in shares of Meritage Homes Co. (NYSE:MTH) by 205.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 418,884 shares of the construction company’s stock after acquiring an additional 281,773 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Meritage Homes were worth $64,433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Jefferies Financial Group Inc. bought a new position in Meritage Homes in the 4th quarter valued at about $5,807,000. GRS Advisors LLC increased its holdings in Meritage Homes by 225.5% in the 4th quarter. GRS Advisors LLC now owns 326,620 shares of the construction company’s stock valued at $50,241,000 after buying an additional 226,277 shares during the period. Ethic Inc. increased its holdings in Meritage Homes by 49.6% in the 4th quarter. Ethic Inc. now owns 2,452 shares of the construction company’s stock valued at $377,000 after buying an additional 813 shares during the period. Crestline Management LP bought a new position in Meritage Homes in the 4th quarter valued at about $8,108,000. Finally, Centiva Capital LP bought a new position in Meritage Homes in the 4th quarter valued at about $2,191,000. 98.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MTH has been the topic of several recent analyst reports. StockNews.com lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Monday, March 24th. Seaport Res Ptn raised shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their price target on shares of Meritage Homes from $89.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Bank of America assumed coverage on shares of Meritage Homes in a research note on Monday, May 5th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, UBS Group set a $107.00 price target on shares of Meritage Homes in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.72.

Insider Buying and Selling

In other news, CAO Alison Sasser sold 676 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total value of $48,692.28. Following the transaction, the chief accounting officer now owns 5,933 shares in the company, valued at approximately $427,353.99. The trade was a 10.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,683 shares of company stock worth $122,547 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Meritage Homes Stock Down 1.4%

NYSE:MTH opened at $68.22 on Monday. The firm’s 50 day simple moving average is $68.88 and its 200 day simple moving average is $78.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. Meritage Homes Co. has a one year low of $59.27 and a one year high of $106.99. The company has a market cap of $4.90 billion, a PE ratio of 5.22 and a beta of 1.50.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.69 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business earned $5.06 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, research analysts anticipate that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.43 per share. The ex-dividend date was Monday, March 17th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a yield of 2.52%. Meritage Homes’s dividend payout ratio (DPR) is currently 14.06%.

Meritage Homes Company 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.