Quantitative Investment Management LLC bought a new position in Meritage Corporation (NYSE:MTH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,900 shares of the construction company’s stock, valued at approximately $1,135,000. Quantitative Investment Management LLC owned about 0.07% of Meritage Corporation at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its position in shares of Meritage Corporation by 0.5% in the second quarter. Arizona State Retirement System now owns 19,728 shares of the construction company’s stock valued at $833,000 after purchasing an additional 100 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Meritage Corporation by 8.1% in the first quarter. SG Americas Securities LLC now owns 4,428 shares of the construction company’s stock valued at $163,000 after purchasing an additional 331 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Meritage Corporation by 1.3% in the second quarter. Texas Permanent School Fund now owns 27,667 shares of the construction company’s stock valued at $1,168,000 after purchasing an additional 364 shares in the last quarter. Aviance Capital Partners LLC grew its position in shares of Meritage Corporation by 3.0% in the second quarter. Aviance Capital Partners LLC now owns 16,782 shares of the construction company’s stock valued at $708,000 after purchasing an additional 488 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Meritage Corporation by 0.9% in the first quarter. Prudential Financial Inc. now owns 64,978 shares of the construction company’s stock valued at $2,391,000 after purchasing an additional 570 shares in the last quarter. 98.18% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on MTH shares. Credit Suisse Group started coverage on Meritage Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price target for the company. BidaskClub upgraded Meritage Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, July 5th. Barclays PLC reiterated an “underweight” rating on shares of Meritage Corporation in a research report on Thursday, July 13th. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Meritage Corporation currently has a consensus rating of “Hold” and a consensus target price of $41.13.

In related news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by company insiders.

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Meritage Corporation (NYSE:MTH) opened at 44.40 on Friday. The company’s 50-day moving average price is $41.67 and its 200 day moving average price is $40.13. The stock has a market capitalization of $1.79 billion, a PE ratio of 12.22 and a beta of 1.46. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $44.90.

Meritage Corporation (NYSE:MTH) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $760.39 million. During the same period last year, the firm earned $0.95 EPS. Meritage Corporation’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts forecast that Meritage Corporation will post $3.78 EPS for the current fiscal year.

About Meritage Corporation

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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