Meritage Corporation (MTH) Stake Lifted by Macquarie Group Ltd.
Macquarie Group Ltd. grew its holdings in Meritage Corporation (NYSE:MTH) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,602,280 shares of the construction company’s stock after purchasing an additional 49,686 shares during the quarter. Macquarie Group Ltd. owned about 3.97% of Meritage Corporation worth $67,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Meritage Corporation by 53,081.0% in the 1st quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock valued at $197,292,000 after purchasing an additional 5,351,091 shares during the period. Vanguard Group Inc. lifted its stake in shares of Meritage Corporation by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after purchasing an additional 37,025 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Meritage Corporation by 0.7% in the 2nd quarter. Fisher Asset Management LLC now owns 1,719,947 shares of the construction company’s stock valued at $72,582,000 after purchasing an additional 12,375 shares during the period. Earnest Partners LLC lifted its stake in shares of Meritage Corporation by 9.1% in the 1st quarter. Earnest Partners LLC now owns 1,386,256 shares of the construction company’s stock valued at $51,014,000 after purchasing an additional 115,181 shares during the period. Finally, State Street Corp lifted its stake in shares of Meritage Corporation by 11.7% in the 1st quarter. State Street Corp now owns 934,609 shares of the construction company’s stock valued at $34,391,000 after purchasing an additional 98,150 shares during the period. 98.18% of the stock is currently owned by institutional investors.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.
A number of research analysts have recently issued reports on MTH shares. Bank of America Corporation reissued an “underperform” rating and issued a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a research note on Wednesday, June 28th. BidaskClub raised Meritage Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Credit Suisse Group AG started coverage on Meritage Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Barclays PLC reissued an “underweight” rating on shares of Meritage Corporation in a research note on Thursday, July 13th. Finally, Deutsche Bank AG boosted their price objective on Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.13.
Shares of Meritage Corporation (NYSE:MTH) traded up 0.43% during mid-day trading on Friday, reaching $47.25. The company had a trading volume of 17,058 shares. The company has a market capitalization of $1.91 billion, a P/E ratio of 13.00 and a beta of 1.48. The firm has a 50-day moving average of $41.57 and a 200-day moving average of $40.60. Meritage Corporation has a 12-month low of $29.70 and a 12-month high of $47.30.
Meritage Corporation (NYSE:MTH) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $802.00 million during the quarter, compared to analyst estimates of $760.39 million. During the same period last year, the business posted $0.95 earnings per share. Meritage Corporation’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Meritage Corporation will post $3.76 earnings per share for the current fiscal year.
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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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