111 Capital Has $254,000 Position in Meritage Homes Corporation $MTH

111 Capital lessened its stake in Meritage Homes Corporation (NYSE:MTH) by 54.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,799 shares of the construction company’s stock after selling 4,554 shares during the period. 111 Capital’s holdings in Meritage Homes were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its holdings in Meritage Homes by 5.8% in the first quarter. Crossmark Global Holdings Inc. now owns 3,439 shares of the construction company’s stock valued at $244,000 after acquiring an additional 189 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Meritage Homes by 136.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,901 shares of the construction company’s stock worth $277,000 after purchasing an additional 2,248 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Meritage Homes by 100.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 30,325 shares of the construction company’s stock valued at $2,149,000 after purchasing an additional 15,218 shares during the last quarter. Reyes Financial Architecture Inc. increased its position in shares of Meritage Homes by 182.0% during the first quarter. Reyes Financial Architecture Inc. now owns 1,255 shares of the construction company’s stock worth $89,000 after buying an additional 810 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Meritage Homes by 151.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,202 shares of the construction company’s stock worth $440,000 after buying an additional 3,731 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

Meritage Homes Stock Performance

Shares of MTH opened at $72.16 on Tuesday. Meritage Homes Corporation has a one year low of $59.27 and a one year high of $102.91. The company has a market cap of $5.13 billion, a PE ratio of 6.49 and a beta of 1.42. The stock has a 50-day moving average of $75.34 and a 200-day moving average of $70.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.16 and a quick ratio of 2.16.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.60 billion. Meritage Homes had a return on equity of 12.37% and a net margin of 10.27%.The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.15 earnings per share. On average, equities research analysts predict that Meritage Homes Corporation will post 9.44 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.72 annualized dividend and a yield of 2.4%. Meritage Homes’s dividend payout ratio (DPR) is presently 15.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 23rd. Evercore ISI boosted their price objective on Meritage Homes from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Wedbush cut their target price on Meritage Homes from $103.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Bank of America lifted their target price on Meritage Homes from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. dropped their price target on Meritage Homes from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.14.

Insiders Place Their Bets

In other Meritage Homes news, Director Dennis V. Arriola purchased 2,200 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $154,000.00. Following the purchase, the director owned 9,512 shares of the company’s stock, valued at $665,840. This trade represents a 30.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phillippe Lord sold 6,950 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $80.01, for a total transaction of $556,069.50. Following the completion of the transaction, the chief executive officer directly owned 221,320 shares in the company, valued at $17,707,813.20. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

About Meritage Homes

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.