Meritage Corporation (MTH) Holdings Cut by Voya Investment Management LLC
Voya Investment Management LLC trimmed its position in Meritage Corporation (NYSE:MTH) by 27.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 291,314 shares of the construction company’s stock after selling 112,277 shares during the period. Voya Investment Management LLC owned about 0.72% of Meritage Corporation worth $12,294,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of MTH. Ameritas Investment Partners Inc. bought a new stake in Meritage Corporation in the 1st quarter worth about $122,000. Victory Capital Management Inc. grew its position in Meritage Corporation by 64.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock worth $127,000 after purchasing an additional 1,361 shares in the last quarter. Riverhead Capital Management LLC grew its position in Meritage Corporation by 88.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,496 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its position in 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 worth $146,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Meritage Corporation in the 1st quarter worth about $153,000. 98.18% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by insiders.
Meritage Corporation (NYSE MTH) opened at 47.05 on Friday. The company has a market capitalization of $1.90 billion, a P/E ratio of 12.95 and a beta of 1.48. The stock’s 50 day moving average is $41.57 and its 200-day moving average is $40.60. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $47.25.
Meritage Corporation (NYSE:MTH) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The firm had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $760.39 million. During the same period in the previous year, the company earned $0.95 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. Analysts predict that Meritage Corporation will post $3.76 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Barclays PLC reaffirmed an “underweight” rating and issued a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a research report on Wednesday, August 2nd. Deutsche Bank AG upped their price objective on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Bank of America Corporation reaffirmed an “underperform” rating and issued a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, BidaskClub downgraded shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.13.
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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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