Sei Investments Co. Acquires 3,245 Shares of Meritage Corporation (MTH)
Sei Investments Co. lifted its holdings in Meritage Corporation (NYSE:MTH) by 80.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,287 shares of the construction company’s stock after purchasing an additional 3,245 shares during the period. Sei Investments Co.’s holdings in Meritage were worth $324,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Meritage by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after purchasing an additional 328 shares during the period. Riverhead Capital Management LLC increased its holdings in Meritage 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 acquiring an additional 1,496 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Meritage by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after acquiring an additional 609 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Meritage in the 2nd quarter worth approximately $202,000. Finally, Amalgamated Bank purchased a new stake in Meritage in the 2nd quarter worth approximately $222,000. Hedge funds and other institutional investors own 98.20% of the company’s stock.
Shares of Meritage Corporation (NYSE MTH) traded down $0.20 on Thursday, reaching $49.75. 387,400 shares of the company’s stock were exchanged, compared to its average volume of 309,246. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. Meritage Corporation has a twelve month low of $33.40 and a twelve month high of $55.50. The stock has a market cap of $2,014.29, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.34 and a beta of 1.53.
MTH has been the subject of several analyst reports. Zacks Investment Research lowered shares of Meritage from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. UBS initiated coverage on shares of Meritage in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price for the company. Finally, Citigroup increased their target price on shares of Meritage from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.20.
In other news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Gary Sarver sold 12,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
Meritage 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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