Meritage Corporation (NYSE:MTH) Shares Sold by Thrivent Financial For Lutherans

Thrivent Financial For Lutherans decreased its position in shares of Meritage Corporation (NYSE:MTH) by 99.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,840 shares of the construction company’s stock after selling 2,748,610 shares during the period. Thrivent Financial For Lutherans owned 0.06% of Meritage Corporation worth $964,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MTH. Ameritas Investment Partners Inc. acquired a new position in shares of Meritage Corporation in the first quarter valued at approximately $122,000. Victory Capital Management Inc. grew its holdings in Meritage Corporation by 64.9% during the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock worth $127,000 after acquiring an additional 1,361 shares during the period. Riverhead Capital Management LLC grew its holdings in Meritage Corporation by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after acquiring an additional 1,496 shares during the period. Point72 Asia Hong Kong Ltd grew its holdings in Meritage Corporation by 3,388.6% during the first quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock worth $146,000 after acquiring an additional 3,863 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Meritage Corporation during the first quarter worth $153,000. 98.18% of the stock is currently owned by institutional investors and hedge funds.

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In related news, EVP Javier Feliciano sold 1,009 shares of the company’s 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 link. 5.60% of the stock is owned by corporate insiders.

MTH has been the topic of several recent research reports. Credit Suisse Group initiated coverage on Meritage Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research downgraded Meritage Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub upgraded Meritage Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Barclays PLC restated an “underweight” rating on shares of Meritage Corporation in a research report on Thursday, July 13th. Finally, Deutsche Bank AG increased their target price on Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.13.

Shares of Meritage Corporation (MTH) opened at 47.95 on Tuesday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 13.19 and a beta of 1.48. The firm’s 50-day moving average price is $42.60 and its 200 day moving average price is $41.13. Meritage Corporation has a 52 week low of $29.70 and a 52 week high of $48.70.

Meritage Corporation (NYSE:MTH) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The company had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $760.39 million. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts anticipate that Meritage Corporation will post $3.77 EPS for the current year.

Meritage Corporation Company Profile

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.

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

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