Metropolitan Life Insurance Co NY lowered its stake in Meritage Homes Corp (NYSE:MTH) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,605 shares of the construction company’s stock after selling 963 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Meritage Homes were worth $816,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in MTH. Advisory Services Network LLC purchased a new position in shares of Meritage Homes in the second quarter worth approximately $26,000. Neo Ivy Capital Management purchased a new position in Meritage Homes in the third quarter valued at about $28,000. Rehmann Capital Advisory Group increased its position in Meritage Homes by 159.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 694 shares of the construction company’s stock worth $36,000 after purchasing an additional 427 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in Meritage Homes in the 2nd quarter worth about $62,000. Finally, Penserra Capital Management LLC raised its stake in shares of Meritage Homes by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 1,900 shares of the construction company’s stock worth $133,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Shares of NYSE:MTH opened at $65.67 on Monday. The stock has a market capitalization of $2.57 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.31 and a beta of 0.94. The business has a 50-day moving average of $70.20 and a two-hundred day moving average of $62.71. Meritage Homes Corp has a fifty-two week low of $33.57 and a fifty-two week high of $76.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.30 and a quick ratio of 1.30.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.30. Meritage Homes had a return on equity of 12.42% and a net margin of 6.29%. The business had revenue of $940.90 million for the quarter, compared to analyst estimates of $930.41 million. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts expect that Meritage Homes Corp will post 5.68 EPS for the current fiscal year.

Several brokerages have recently issued reports on MTH. Goldman Sachs Group assumed coverage on Meritage Homes in a report on Friday. They set a “sell” rating and a $59.00 price target for the company. Evercore ISI restated a “hold” rating and issued a $76.00 price objective on shares of Meritage Homes in a report on Thursday, November 21st. Wells Fargo & Co raised their price objective on shares of Meritage Homes from $70.00 to $82.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Bank of America lifted their target price on shares of Meritage Homes from $79.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, ValuEngine downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.66.

In other Meritage Homes news, CEO Steven J. Hilton sold 57,899 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $67.19, for a total transaction of $3,890,233.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond Oppel sold 15,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $68.26, for a total transaction of $1,023,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,899 shares of company stock worth $5,958,834. Corporate insiders own 6.10% of the company’s stock.

Meritage Homes Profile

Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

Featured Story: Strangles

Want to see what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritage Homes Corp (NYSE:MTH).

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

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.