QRG Capital Management Inc. Has $649,000 Stock Holdings in Meritage Homes Co. (NYSE:MTH)

QRG Capital Management Inc. decreased its position in Meritage Homes Co. (NYSE:MTH) by 13.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,221 shares of the construction company’s stock after selling 651 shares during the period. QRG Capital Management Inc.’s holdings in Meritage Homes were worth $649,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in Meritage Homes by 545.5% during the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock worth $33,000 after acquiring an additional 180 shares in the last quarter. Assetmark Inc. raised its position in shares of Meritage Homes by 53.6% during the third quarter. Assetmark Inc. now owns 172 shares of the construction company’s stock worth $35,000 after purchasing an additional 60 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Meritage Homes during the 4th quarter valued at about $92,000. Archer Investment Corp grew its position in shares of Meritage Homes by 42.1% in the 3rd quarter. Archer Investment Corp now owns 675 shares of the construction company’s stock valued at $138,000 after purchasing an additional 200 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Meritage Homes by 3,044.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 912 shares of the construction company’s stock worth $187,000 after purchasing an additional 883 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Stock Up 1.7 %

Shares of MTH stock opened at $71.92 on Wednesday. The firm’s fifty day moving average price is $79.56 and its two-hundred day moving average price is $89.23. The company has a current ratio of 1.61, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. Meritage Homes Co. has a 1 year low of $69.26 and a 1 year high of $106.99. The firm has a market capitalization of $5.16 billion, a P/E ratio of 5.50 and a beta of 1.88.

Meritage Homes (NYSE:MTH) last released its 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%. On average, equities analysts predict that Meritage Homes Co. will post 9.44 EPS for the current fiscal 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 $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, March 17th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. Meritage Homes’s dividend payout ratio is presently 13.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MTH shares. The Goldman Sachs Group dropped their target price on shares of Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wedbush restated a “neutral” rating and set a $103.00 price objective on shares of Meritage Homes in a report on Tuesday, February 4th. UBS Group reduced their target price on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $98.50 target price (down previously from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods cut their price target on Meritage Homes from $97.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $106.25.

Insider Activity at Meritage Homes

In other news, Chairman Steven J. Hilton purchased 11,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $74.51 per share, for a total transaction of $819,610.00. Following the completion of the purchase, the chairman now directly owns 811,192 shares in the company, valued at $60,441,915.92. The trade was a 1.37 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Clinton Szubinski sold 595 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total transaction of $43,607.55. Following the transaction, the chief operating officer now owns 30,547 shares in the company, valued at $2,238,789.63. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,683 shares of company stock valued at $122,547. 2.00% of the stock is owned by corporate insiders.

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.