Meritage Corporation (MTH) Stake Lowered by BlackRock Inc.
BlackRock Inc. reduced its holdings in Meritage Corporation (NYSE:MTH) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,341,118 shares of the construction company’s stock after selling 20,054 shares during the quarter. BlackRock Inc. owned about 13.25% of Meritage Corporation worth $225,396,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Meritage Corporation in the 1st quarter valued at approximately $122,000. Victory Capital Management Inc. lifted its holdings in shares of Meritage Corporation by 64.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after buying an additional 1,361 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Meritage Corporation by 88.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after buying an additional 1,496 shares during the period. Point72 Asia Hong Kong Ltd lifted its holdings in shares of Meritage Corporation by 3,388.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock valued at $146,000 after buying an additional 3,863 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Meritage Corporation in the 1st quarter valued at approximately $153,000. 98.18% of the stock is owned by institutional investors and hedge funds.
Meritage Corporation (NYSE:MTH) opened at 47.55 on Friday. The firm’s 50-day moving average price is $41.72 and its 200 day moving average price is $40.67. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $47.70. The stock has a market cap of $1.92 billion, a P/E ratio of 13.08 and a beta of 1.48.
Meritage Corporation (NYSE:MTH) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The company had revenue of $802.00 million during the quarter, compared to the consensus estimate of $760.39 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts predict that Meritage Corporation will post $3.77 earnings per share for the current year.
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Several equities analysts recently issued reports on the company. Barclays PLC reaffirmed an “underweight” rating and set a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Zacks Investment Research cut Meritage Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Deutsche Bank AG lifted their price objective on Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Credit Suisse Group assumed coverage on Meritage Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Meritage Corporation has an average rating of “Hold” and a consensus price target of $41.13.
In other news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.
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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