Legal & General Group Plc raised its stake in Meritage Corporation (NYSE:MTH) by 24.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,556 shares of the construction company’s stock after acquiring an additional 18,510 shares during the quarter. Legal & General Group Plc owned approximately 0.24% of Meritage worth $4,243,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Meritage 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 buying an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Meritage by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after buying an additional 328 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Meritage by 1.9% in the second quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock valued at $971,000 after buying an additional 419 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Meritage by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock valued at $172,000 after buying an additional 609 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Meritage by 2.2% in the second quarter. California Public Employees Retirement System now owns 50,300 shares of the construction company’s stock valued at $2,123,000 after buying an additional 1,100 shares in the last quarter. 98.20% of the stock is owned by institutional investors.

Shares of Meritage Corporation (MTH) opened at $49.80 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. Meritage Corporation has a 12-month low of $33.40 and a 12-month high of $55.50. The company has a market capitalization of $1,998.16, a P/E ratio of 13.11, a P/E/G ratio of 1.33 and a beta of 1.53.

Meritage (NYSE:MTH) last issued its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. Meritage had a return on equity of 10.81% and a net margin of 5.04%. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts predict that Meritage Corporation will post 3.8 EPS for the current fiscal year.

In related news, Director Robert Gary Sarver sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total transaction of $605,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

A number of analysts have recently commented on MTH shares. Zacks Investment Research cut Meritage from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. UBS started coverage on Meritage in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Citigroup boosted their price objective on Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Meritage currently has a consensus rating of “Hold” and an average target price of $43.20.

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

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