Meritage Corporation (MTH) Position Cut by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC decreased its position in Meritage Corporation (NYSE:MTH) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,216 shares of the construction company’s stock after selling 15,383 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.19% of Meritage Corporation worth $3,216,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in MTH. Victory Capital Management Inc. lifted its holdings in Meritage Corporation by 64.9% in the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after buying an additional 1,361 shares during the period. Riverhead Capital Management LLC lifted its holdings in Meritage Corporation by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after buying an additional 1,496 shares during the period. SG Americas Securities LLC lifted its holdings in 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 buying an additional 331 shares during the period. Sei Investments Co. acquired a new position in Meritage Corporation in the second quarter valued at $170,000. Finally, Integrated Investment Consultants LLC lifted its holdings in Meritage Corporation by 37.4% in the second quarter. Integrated Investment Consultants LLC now owns 4,150 shares of the construction company’s stock valued at $175,000 after buying an additional 1,129 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.
Several equities analysts recently issued reports on the stock. Barclays PLC restated an “underweight” rating and issued a $38.00 target price (up previously from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. UBS AG assumed coverage on shares of Meritage Corporation in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research lowered shares of Meritage Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Deutsche Bank AG boosted their target price on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered shares of Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. 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 company’s stock. Meritage Corporation presently has an average rating of “Hold” and an average target price of $43.20.
Meritage Corporation (NYSE:MTH) last announced its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. The firm had revenue of $805.60 million for the quarter, compared to analyst estimates of $827.40 million. Meritage Corporation had a net margin of 5.04% and a return on equity of 10.81%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS.
In other news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.
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.
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