Meritage Homes Corp. (MTH) Position Reduced by Macquarie Group Ltd.
Macquarie Group Ltd. cut its stake in shares of Meritage Homes Corp. (NYSE:MTH) by 15.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,250,073 shares of the company’s stock after selling 230,116 shares during the period. Macquarie Group Ltd. owned about 3.12% of Meritage Homes Corp. worth $46,928,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Meritage Homes Corp. by 86.4% in the first quarter. BlackRock Inc. now owns 3,053 shares of the company’s stock valued at $112,000 after buying an additional 1,415 shares during the period. BlackRock Group LTD boosted its stake in Meritage Homes Corp. by 7.8% in the first quarter. BlackRock Group LTD now owns 48,331 shares of the company’s stock valued at $1,762,000 after buying an additional 3,502 shares during the period. State Street Corp boosted its stake in Meritage Homes Corp. by 1.9% in the first quarter. State Street Corp now owns 771,458 shares of the company’s stock valued at $28,128,000 after buying an additional 14,221 shares during the period. A.R.T. Advisors LLC bought a new stake in Meritage Homes Corp. during the first quarter valued at $1,043,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Meritage Homes Corp. by 106.9% in the second quarter. BNP Paribas Arbitrage SA now owns 12,378 shares of the company’s stock valued at $465,000 after buying an additional 6,394 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.
Shares of Meritage Homes Corp. (NYSE:MTH) traded up 0.85% during trading on Friday, reaching $35.50. 233,062 shares of the company were exchanged. Meritage Homes Corp. has a 1-year low of $25.48 and a 1-year high of $41.22. The firm’s 50 day moving average is $33.03 and its 200 day moving average is $35.36. The firm has a market capitalization of $1.42 billion, a P/E ratio of 9.90 and a beta of 1.24.
Meritage Homes Corp. (NYSE:MTH) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company earned $735.90 million during the quarter, compared to the consensus estimate of $751 million. Meritage Homes Corp. had a return on equity of 11.50% and a net margin of 5.14%. Meritage Homes Corp.’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, equities analysts anticipate that Meritage Homes Corp. will post $3.46 EPS for the current fiscal year.
Several analysts recently weighed in on MTH shares. FBR & Co lifted their price target on shares of Meritage Homes Corp. from $36.00 to $41.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Credit Suisse Group AG reiterated a “sell” rating and issued a $36.00 price target on shares of Meritage Homes Corp. in a report on Friday, July 29th. Zacks Investment Research cut shares of Meritage Homes Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 2nd. JPMorgan Chase & Co. cut shares of Meritage Homes Corp. from an “overweight” rating to a “neutral” rating and set a $37.50 price target on the stock. in a report on Tuesday, August 2nd. Finally, Deutsche Bank AG cut shares of Meritage Homes Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $41.00 to $38.00 in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.50.
About Meritage Homes Corp.
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.
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