LSV Asset Management trimmed its position in Meritage Homes Co. (NYSE:MTH) by 5.1% during the third quarter, HoldingsChannel.com reports. The firm owned 463,506 shares of the construction company’s stock after selling 24,800 shares during the quarter. LSV Asset Management’s holdings in Meritage Homes were worth $51,166,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MTH. Fisher Asset Management LLC lifted its holdings in shares of Meritage Homes by 18.5% in the second quarter. Fisher Asset Management LLC now owns 1,408,368 shares of the construction company’s stock valued at $107,205,000 after purchasing an additional 219,855 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Meritage Homes by 17.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,139,841 shares of the construction company’s stock valued at $86,765,000 after purchasing an additional 173,360 shares in the last quarter. Muhlenkamp & Co. Inc. acquired a new stake in shares of Meritage Homes in the second quarter valued at about $8,996,000. Macquarie Group Ltd. increased its position in shares of Meritage Homes by 7.1% in the second quarter. Macquarie Group Ltd. now owns 1,213,514 shares of the construction company’s stock valued at $92,373,000 after acquiring an additional 80,975 shares during the last quarter. Finally, Waterfront Capital Partners LLC acquired a new stake in shares of Meritage Homes in the second quarter valued at about $4,948,000. Institutional investors own 97.03% of the company’s stock.
NYSE MTH traded down $5.38 during trading on Monday, reaching $94.88. 13,202 shares of the company’s stock were exchanged, compared to its average volume of 518,131. The business has a 50 day moving average price of $105.22 and a 200-day moving average price of $81.76. The stock has a market capitalization of $3.77 billion, a P/E ratio of 11.59, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. Meritage Homes Co. has a fifty-two week low of $25.24 and a fifty-two week high of $117.06.
Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, October 21st. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.42. Meritage Homes had a return on equity of 16.93% and a net margin of 8.35%. On average, analysts forecast that Meritage Homes Co. will post 9.64 earnings per share for the current year.
A number of analysts recently issued reports on MTH shares. Zelman & Associates downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, October 13th. BTIG Research lifted their target price on Meritage Homes from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. downgraded Meritage Homes from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $114.00 to $137.00 in a research report on Thursday, October 8th. ValuEngine downgraded Meritage Homes from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Wells Fargo & Company raised Meritage Homes from an “equal weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a research report on Monday, September 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $106.44.
In other Meritage Homes news, CFO Hilla Sferruzza sold 6,900 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $102.04, for a total transaction of $704,076.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP C Timothy White sold 7,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $105.46, for a total value of $790,950.00. The disclosure for this sale can be found here. Insiders sold 164,300 shares of company stock worth $17,027,694 in the last ninety days. 2.00% of the stock is owned by company insiders.
Meritage Homes Company Profile
Meritage Homes Corporation designs and builds single-family 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 first-time and first move-up buyers. The company also offers luxury homes under the Monterey Homes brand name; and title insurance and closing/settlement services to its homebuyers.
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