Dimensional Fund Advisors LP decreased its holdings in Meritage Homes Corp (NYSE:MTH) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,285,000 shares of the construction company’s stock after selling 36,989 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.08% of Meritage Homes worth $131,072,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in Meritage Homes by 46.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,987 shares of the construction company’s stock valued at $175,000 after buying an additional 1,256 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Meritage Homes in the second quarter valued at $205,000. Paloma Partners Management Co acquired a new position in Meritage Homes in the second quarter valued at $232,000. Commonwealth Bank of Australia acquired a new position in Meritage Homes in the third quarter valued at $243,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Meritage Homes in the second quarter valued at $272,000. 96.61% of the stock is currently owned by institutional investors.

In other news, EVP Javier Feliciano sold 946 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $36.66, for a total transaction of $34,680.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dana Bradford bought 1,500 shares of Meritage Homes stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of $37.70 per share, with a total value of $56,550.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at $2,054,650. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate insiders.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Meritage Homes from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $46.00 in a report on Friday, September 21st. ValuEngine upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Monday, August 13th. JMP Securities reiterated a “buy” rating and set a $48.00 price objective (down previously from $58.00) on shares of Meritage Homes in a report on Thursday, October 11th. Finally, Bank of America set a $51.00 price objective on shares of Meritage Homes and gave the company a “buy” rating in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.64.

Meritage Homes stock opened at $37.92 on Friday. Meritage Homes Corp has a twelve month low of $32.02 and a twelve month high of $54.90. The company has a market cap of $1.48 billion, a PE ratio of 7.33, a P/E/G ratio of 0.54 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, October 24th. The construction company reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.03). Meritage Homes had a net margin of 5.43% and a return on equity of 12.56%. The company had revenue of $884.58 million for the quarter, compared to the consensus estimate of $899.55 million. On average, equities analysts expect that Meritage Homes Corp will post 5.21 EPS for the current fiscal year.

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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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