Semanteon Capital Management LP Raises Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Semanteon Capital Management LP boosted its position in Meritage Homes Co. (NYSE:MTH) by 150.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,399 shares of the construction company’s stock after purchasing an additional 5,642 shares during the quarter. Meritage Homes makes up 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 29th biggest position. Semanteon Capital Management LP’s holdings in Meritage Homes were worth $1,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of Meritage Homes by 65.7% in the 3rd quarter. Intech Investment Management LLC now owns 17,259 shares of the construction company’s stock worth $3,539,000 after acquiring an additional 6,843 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Meritage Homes by 235.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company’s stock valued at $104,000 after purchasing an additional 475 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Meritage Homes by 4.9% during the fourth quarter. New York State Common Retirement Fund now owns 14,589 shares of the construction company’s stock valued at $2,244,000 after purchasing an additional 679 shares during the last quarter. L & S Advisors Inc bought a new stake in shares of Meritage Homes in the 3rd quarter worth approximately $1,338,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Meritage Homes by 7.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 120,767 shares of the construction company’s stock worth $24,765,000 after purchasing an additional 8,207 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Insider Buying and Selling at Meritage Homes

In other news, COO Clinton Szubinski sold 595 shares of Meritage Homes stock in a transaction on Wednesday, February 12th. The shares were 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 trade represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven J. Hilton acquired 11,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were acquired 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 in the company, valued at approximately $60,441,915.92. This trade represents a 1.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,683 shares of company stock worth $122,547 in the last three months. 2.00% of the stock is currently owned by company insiders.

Meritage Homes Stock Up 0.5 %

MTH opened at $71.50 on Friday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 5.47 and a beta of 1.92. The firm has a 50 day moving average price of $75.63 and a 200-day moving average price of $87.25. Meritage Homes Co. has a twelve month low of $68.93 and a twelve month 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.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. Equities research analysts forecast that Meritage Homes Co. will post 9.44 earnings per share for the current year.

Meritage Homes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.41%. This is a boost from Meritage Homes’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, March 17th. Meritage Homes’s dividend payout ratio (DPR) is presently 13.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price objective on shares of Meritage Homes from $97.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, February 6th. UBS Group decreased their target price on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and set a $103.00 price target on shares of Meritage Homes in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $98.50 price objective (down from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $106.25.

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.