Thrivent Financial for Lutherans sells 13,936 shares of Meritage Homes Co. (NYSE:MTH)

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Thrivent Financial for Lutherans trimmed its stake in shares of Meritage Homes Co. (NYSE:MTH – Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,600 shares of the construction company’s stock after selling 13,936 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Meritage Homes were worth $53,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have recently modified their positions in the company. Norges Bank acquired a new stake in Meritage Homes during the fourth quarter valued at approximately $76,297,000. Long Pond Capital LP acquired a new stake in Meritage Homes in the first quarter worth approximately $32,303,000. Swedbank AB purchased a new stake in Meritage Homes in the 1st quarter worth approximately $25,495,000. Mizuho Markets Americas LLC purchased a new stake in Meritage Homes in the second quarter valued at approximately $22,887,000. Finally, Boston Partners purchased a new stake in Meritage Homes in the first quarter worth approximately $23,106,000. 98.44% of shares are currently owned by institutional investors.

Analyst upgrades and downgrades

Several research firms have recently commented on MTH. Evercore ISI upped their target price on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wedbush upped their target price on Meritage Homes from $148.00 to $160.00 and gave the stock an “underperform” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Raymond James raised their price objective on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Meritage Homes presently has an average rating of “Moderate Buy” and an average price target of $208.00, according to MarketBeat .

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Inside activity at Meritage Homes

In related news, EVP Javier Feliciano sold 3,000 shares of Meritage Homes stock in a transaction on Friday, July 26th. The shares were sold at an average price of $198.36, for a total transaction of $595,080.00. Following the sale, the executive vice president now directly owns 14,307 shares in the company, valued at $2,837,936.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In related news, CFO Hilla Sferruzza sold 2,500 shares of Meritage Homes stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the sale, the chief financial officer now directly owns 44,570 shares in the company, valued at $9,136,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, EVP Javier Feliciano sold 3,000 shares of Meritage Homes stock in a transaction on Friday, July 26th. The stock was sold at an average price of $198.36, for a total value of $595,080.00. Following the sale, the executive vice president now owns 14,307 shares in the company, valued at $2,837,936.52. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $3,111,080 in the last 90 days. Insiders own 2.00% of the company’s shares.

Meritage Houses trading down 4.8%

Shares of Meritage Homes opened at $203.33 on Monday. The stock has a market cap of $7.38 billion, a PE ratio of 9.48 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.93, and a current ratio of 1.93. Meritage Homes Co. it has a 52-week low of $109.23 and a 52-week high of $213.98. The stock has a 50-day moving average of $192.42 and a two-hundred-day moving average of $175.58.

Meritage Homes (NYSE:MTH – Get Your Free Report ) last announced its earnings results on Wednesday, July 24th. The construction company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $1.14. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. Meritage Homes’s quarterly revenue was up 9.8% on a year-over-year basis. In the same quarter last year, the company earned $5.02 per share. As a group, equities analysts anticipate that Meritage Homes Co. will post 21.09 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, September 16. This represents an annualized dividend of $3.00 and a dividend yield of 1.48%. The payout rate for Meritage Homes is 13.99%.

Profile of Meritage Houses

(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, home construction and financial services. Purchases and develops land; and builds, markets and sells homes for entry-level and first-time buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.