Prudential Financial Inc. Has $13.68 Million Stock Position in Meritage Homes Co. (NYSE:MTH)

Prudential Financial Inc. reduced its stake in Meritage Homes Co. (NYSE:MTH) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,948 shares of the construction company’s stock after selling 3,354 shares during the period. Prudential Financial Inc.’s holdings in Meritage Homes were worth $13,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTH. Vanguard Group Inc. grew its position in Meritage Homes by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,074,741 shares of the construction company’s stock valued at $626,777,000 after acquiring an additional 26,889 shares during the period. LPL Financial LLC grew its holdings in shares of Meritage Homes by 56.1% in the 4th quarter. LPL Financial LLC now owns 10,265 shares of the construction company’s stock worth $1,579,000 after purchasing an additional 3,687 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Meritage Homes during the 4th quarter worth about $687,000. KLP Kapitalforvaltning AS bought a new position in Meritage Homes during the 4th quarter valued at about $1,154,000. Finally, Sei Investments Co. boosted its position in Meritage Homes by 10.2% in the fourth quarter. Sei Investments Co. now owns 47,699 shares of the construction company’s stock valued at $7,337,000 after buying an additional 4,397 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Price Performance

Shares of MTH stock opened at $72.74 on Friday. 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 Co. has a 12 month low of $68.93 and a 12 month high of $106.99. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 5.56 and a beta of 1.92. The stock has a 50-day moving average price of $75.10 and a 200 day moving average price of $86.44.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. Research analysts expect that Meritage Homes Co. will post 9.44 EPS for the current year.

Meritage Homes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Meritage Homes’s previous quarterly dividend of $0.38. Meritage Homes’s dividend payout ratio is 13.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MTH shares. Wedbush reiterated a “neutral” rating and issued a $103.00 target price on shares of Meritage Homes in a research note on Tuesday, February 4th. Seaport Res Ptn upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group decreased their target price on Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. UBS Group cut their price target on Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods decreased 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 report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.25.

Insider Transactions at Meritage Homes

In other Meritage Homes news, CAO Alison Sasser sold 676 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $72.03, for a total transaction 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. This trade represents a 10.23 % decrease in their ownership of the stock. The sale was disclosed in a 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 value of $43,607.55. Following the transaction, the chief operating officer now owns 30,547 shares of the company’s stock, valued at $2,238,789.63. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,683 shares of company stock worth $122,547 in the last three months. Insiders own 2.00% of the company’s stock.

Meritage Homes 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.