Twinbeech Capital LP Makes New $2.62 Million Investment in Meritage Homes Co. (NYSE:MTH)

Twinbeech Capital LP acquired a new position in Meritage Homes Co. (NYSE:MTH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,031 shares of the construction company’s stock, valued at approximately $2,620,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MTH. Pinnacle Holdings LLC purchased a new position in Meritage Homes in the fourth quarter worth $31,000. Allworth Financial LP boosted its position in Meritage Homes by 545.5% in the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Meritage Homes in the fourth quarter worth $92,000. Smartleaf Asset Management LLC boosted its position in Meritage Homes by 235.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company’s stock worth $104,000 after purchasing an additional 475 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Meritage Homes by 38.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,122 shares of the construction company’s stock valued at $173,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Wall Street Analysts Forecast Growth

MTH has been the topic of a number of recent research reports. Bank of America initiated coverage on Meritage Homes in a research report on Monday, May 5th. They set a “buy” rating and a $82.00 price target on the stock. Seaport Res Ptn raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. UBS Group set a $107.00 price target on Meritage Homes in a research report on Friday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $103.00 price target on shares of Meritage Homes in a research report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods dropped their price target on Meritage Homes from $90.00 to $77.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Meritage Homes currently has a consensus rating of “Hold” and an average price target of $97.72.

Meritage Homes Stock Performance

Shares of MTH opened at $66.50 on Wednesday. The stock’s 50-day simple moving average is $68.09 and its 200 day simple moving average is $77.90. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 5.09 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61. Meritage Homes Co. has a 52-week low of $59.27 and a 52-week high of $106.99.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.02). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the company posted $5.06 EPS. Research analysts forecast 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 was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.43 per share. This is a boost from Meritage Homes’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a yield of 2.59%. Meritage Homes’s dividend payout ratio is 14.06%.

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.