Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Meritage Homes Corp (NYSE:MTH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,100 shares of the construction company’s stock, valued at approximately $620,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS Group AG raised its stake in Meritage Homes by 45.8% during the first quarter. UBS Group AG now owns 29,728 shares of the construction company’s stock valued at $1,346,000 after buying an additional 9,345 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Meritage Homes by 4.9% during the first quarter. Thrivent Financial for Lutherans now owns 24,544 shares of the construction company’s stock valued at $1,111,000 after buying an additional 1,153 shares in the last quarter. Mark Asset Management Corp acquired a new stake in Meritage Homes during the first quarter valued at approximately $2,715,000. Allianz Asset Management GmbH acquired a new stake in Meritage Homes during the first quarter valued at approximately $464,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Meritage Homes by 19.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 42,430 shares of the construction company’s stock valued at $1,920,000 after buying an additional 6,825 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

In other news, EVP C Timothy White sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $46.25, for a total transaction of $370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on MTH. Zacks Investment Research upgraded Meritage Homes from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, August 14th. Wells Fargo & Co lowered their target price on Meritage Homes from $57.00 to $49.00 and set a “market perform” rating for the company in a report on Friday, July 27th. Wedbush lowered their target price on Meritage Homes from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, July 27th. Credit Suisse Group lowered their target price on Meritage Homes from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, July 26th. Finally, ValuEngine lowered Meritage Homes from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.30.

NYSE:MTH opened at $41.90 on Monday. The company has a market cap of $1.75 billion, a PE ratio of 10.80, a P/E/G ratio of 0.51 and a beta of 1.15. Meritage Homes Corp has a 52 week low of $38.80 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 25th. The construction company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.21. The company had revenue of $877.50 million during the quarter, compared to analyst estimates of $825.47 million. Meritage Homes had a return on equity of 12.17% and a net margin of 5.21%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. equities research analysts anticipate that Meritage Homes Corp will post 5.67 EPS for the current year.

Meritage Homes Profile

Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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Institutional Ownership by Quarter for Meritage Homes (NYSE:MTH)

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