Wells Fargo & Company MN reduced its stake in shares of Meritage Homes Corp (NYSE:MTH) by 84.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,447 shares of the construction company’s stock after selling 1,176,923 shares during the period. Wells Fargo & Company MN owned approximately 0.54% of Meritage Homes worth $9,610,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in shares of Meritage Homes by 24.0% during the third quarter. Legal & General Group Plc now owns 95,556 shares of the construction company’s stock worth $4,243,000 after buying an additional 18,510 shares during the period. American International Group Inc. lifted its stake in shares of Meritage Homes by 5.8% during the third quarter. American International Group Inc. now owns 30,423 shares of the construction company’s stock worth $1,351,000 after buying an additional 1,664 shares during the period. Aviance Capital Partners LLC lifted its stake in shares of Meritage Homes by 11.2% during the third quarter. Aviance Capital Partners LLC now owns 18,658 shares of the construction company’s stock worth $828,000 after buying an additional 1,876 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Meritage Homes by 7.4% during the third quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock worth $76,395,000 after buying an additional 118,335 shares during the period. Finally, HAP Trading LLC lifted its stake in shares of Meritage Homes by 42.9% during the third quarter. HAP Trading LLC now owns 18,922 shares of the construction company’s stock worth $840,000 after buying an additional 5,678 shares during the period. Institutional investors and hedge funds own 98.20% of the company’s stock.
Several research firms have recently commented on MTH. Zacks Investment Research upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Citigroup raised their target price on shares of Meritage Homes from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, UBS Group started coverage on shares of Meritage Homes in a report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.20.
Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. Meritage Homes had a net margin of 5.04% and a return on equity of 10.81%. The company had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts forecast that Meritage Homes Corp will post 3.8 EPS for the current year.
In other Meritage Homes news, EVP Javier Feliciano sold 1,009 shares of Meritage Homes stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Gary Sarver sold 12,000 shares of Meritage Homes stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total transaction of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.
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About Meritage Homes
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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