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.

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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.

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

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