Franklin Resources Inc. Acquires 56,468 Shares of Meritage Homes Co. (NYSE:MTH)

Franklin Resources Inc. grew its holdings in shares of Meritage Homes Co. (NYSE:MTHFree Report) by 60.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,933 shares of the construction company’s stock after buying an additional 56,468 shares during the quarter. Franklin Resources Inc. owned approximately 0.41% of Meritage Homes worth $26,118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Evergreen Capital Management LLC boosted its position in Meritage Homes by 3.3% during the third quarter. Evergreen Capital Management LLC now owns 2,380 shares of the construction company’s stock valued at $291,000 after purchasing an additional 77 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Meritage Homes by 91.6% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after buying an additional 98 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Meritage Homes by 3.3% in the third quarter. Great Lakes Advisors LLC now owns 4,308 shares of the construction company’s stock valued at $527,000 after buying an additional 136 shares in the last quarter. Arizona State Retirement System increased its holdings in Meritage Homes by 1.4% during the third quarter. Arizona State Retirement System now owns 10,468 shares of the construction company’s stock worth $1,281,000 after buying an additional 141 shares during the last quarter. Finally, Renaissance Group LLC increased its holdings in Meritage Homes by 1.1% during the third quarter. Renaissance Group LLC now owns 15,450 shares of the construction company’s stock worth $1,891,000 after buying an additional 172 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTH has been the subject of a number of analyst reports. Zelman & Associates raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. Wedbush reiterated an “underperform” rating and set a $148.00 price target on shares of Meritage Homes in a report on Tuesday, May 21st. StockNews.com raised Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.25.

View Our Latest Stock Analysis on Meritage Homes

Meritage Homes Trading Up 1.1 %

Shares of MTH stock opened at $174.62 on Monday. Meritage Homes Co. has a 12-month low of $109.23 and a 12-month high of $189.96. The company has a market capitalization of $6.34 billion, a PE ratio of 8.14 and a beta of 1.75. The firm has a 50 day moving average price of $167.99 and a two-hundred day moving average price of $161.85. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Meritage Homes (NYSE:MTHGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $1.52. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. As a group, analysts predict that Meritage Homes Co. will post 20.27 earnings per share for the current year.

Meritage Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, June 14th. Meritage Homes’s dividend payout ratio (DPR) is 13.99%.

Insider Buying and Selling at Meritage Homes

In related news, CEO Phillippe Lord sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total value of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares in the company, valued at $16,322,302.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Meritage Homes Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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