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.
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