Legal & General Group Plc lifted its holdings in Meritage Corporation (NYSE:MTH) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,046 shares of the construction company’s stock after acquiring an additional 6,433 shares during the period. Legal & General Group Plc owned 0.19% of Meritage Corporation worth $3,251,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Meritage Corporation in the 1st quarter valued at about $122,000. Victory Capital Management Inc. lifted its holdings in shares of Meritage Corporation by 64.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after acquiring an additional 1,361 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its holdings in shares of Meritage Corporation by 3,388.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock valued at $146,000 after acquiring an additional 3,863 shares during the last quarter. Sei Investments Co. bought a new position in shares of Meritage Corporation in the 2nd quarter valued at about $170,000. Finally, Integrated Investment Consultants LLC lifted its holdings in shares of Meritage Corporation by 37.4% in the 2nd quarter. Integrated Investment Consultants LLC now owns 4,150 shares of the construction company’s stock valued at $175,000 after acquiring an additional 1,129 shares during the last quarter. 98.18% of the stock is owned by hedge funds and other institutional investors.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.
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Shares of Meritage Corporation (NYSE:MTH) opened at 40.50 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 11.14 and a beta of 1.46. Meritage Corporation has a 52 week low of $29.70 and a 52 week high of $44.45. The firm has a 50-day moving average of $41.67 and a 200 day moving average of $40.00.
Meritage Corporation (NYSE:MTH) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.23. The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $760.39 million. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. Meritage Corporation’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Equities analysts expect that Meritage Corporation will post $3.80 EPS for the current fiscal year.
MTH has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, July 5th. BidaskClub raised shares of Meritage Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Deutsche Bank AG increased their price target on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Credit Suisse Group initiated coverage on shares of Meritage Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Bank of America Corporation reaffirmed an “underperform” rating and issued a $38.00 price target (up previously from $36.00) on shares of Meritage Corporation in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $41.13.
About Meritage Corporation
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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