Meritage Corporation (NYSE:MTH) shares reached a new 52-week high during trading on Friday . The stock traded as high as $47.60 and last traded at $47.65, with a volume of 65,134 shares changing hands. The stock had previously closed at $47.05.

MTH has been the subject of several research reports. Bank of America Corporation reaffirmed an “underperform” rating and issued a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, June 28th. BidaskClub raised shares of Meritage Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Credit Suisse Group AG initiated coverage on shares of Meritage Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price target for the company. Barclays PLC reaffirmed an “underweight” rating on shares of Meritage Corporation in a report on Thursday, July 13th. Finally, Deutsche Bank AG lifted their price target on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Meritage Corporation presently has a consensus rating of “Hold” and an average target price of $41.13.

The stock has a market capitalization of $1.92 billion, a PE ratio of 13.078 and a beta of 1.48. The stock’s 50-day moving average price is $41.57 and its 200-day moving average price is $40.60.

Meritage Corporation (NYSE:MTH) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $802.00 million for the quarter, compared to analyst estimates of $760.39 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that Meritage Corporation will post $3.77 earnings per share for the current fiscal year.

In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.60% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of MTH. Ameritas Investment Partners Inc. bought a new stake in Meritage Corporation during the 1st quarter worth about $122,000. Public Employees Retirement System of Ohio grew its holdings in Meritage Corporation by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after acquiring an additional 328 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Meritage Corporation by 64.9% during the 1st 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 last quarter. Riverhead Capital Management LLC grew its holdings in Meritage Corporation by 88.0% during the 2nd 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 last quarter. Finally, Point72 Asia Hong Kong Ltd grew its holdings in Meritage Corporation by 3,388.6% during the 1st 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 last quarter. 98.18% of the stock is currently owned by hedge funds and other institutional investors.

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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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