Tower Research Capital LLC TRC Sells 1,261 Shares of Meritage Homes Corp (MTH)
Tower Research Capital LLC TRC reduced its position in Meritage Homes Corp (NYSE:MTH) by 36.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,235 shares of the construction company’s stock after selling 1,261 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Meritage Homes were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in Meritage Homes by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after buying an additional 328 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Meritage Homes in the second quarter valued at $250,000. Sei Investments Co. grew its position in shares of Meritage Homes by 80.3% in the third quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock valued at $324,000 after purchasing an additional 3,245 shares in the last quarter. Connable Office Inc. grew its position in shares of Meritage Homes by 23.2% in the fourth quarter. Connable Office Inc. now owns 7,482 shares of the construction company’s stock valued at $383,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Meritage Homes in the fourth quarter valued at $458,000. 95.15% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on MTH. ValuEngine cut Meritage Homes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Bank of America upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and set a $55.00 price target for the company in a research report on Wednesday, February 14th. JMP Securities lifted their price target on Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a research report on Friday, February 2nd. Barclays upgraded Meritage Homes from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $50.11.
Shares of Meritage Homes Corp (MTH) opened at $43.40 on Monday. The stock has a market capitalization of $1,744.30, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.64 and a beta of 1.34. Meritage Homes Corp has a 52 week low of $35.75 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.87.
Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Thursday, February 1st. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The company had revenue of $946.40 million during the quarter, compared to analyst estimates of $932.94 million. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. equities analysts expect that Meritage Homes Corp will post 5.06 EPS for the current fiscal year.
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Meritage Homes 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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