DekaBank Deutsche Girozentrale Reduces Stake in Meritage Homes Co. (NYSE:MTH)

DekaBank Deutsche Girozentrale lowered its holdings in Meritage Homes Co. (NYSE:MTHGet Rating) by 12.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,897 shares of the construction company’s stock after selling 2,938 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Meritage Homes were worth $1,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Meritage Homes by 45.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 388 shares of the construction company’s stock valued at $47,000 after acquiring an additional 121 shares during the last quarter. Lazard Asset Management LLC grew its stake in Meritage Homes by 12.8% during the 4th quarter. Lazard Asset Management LLC now owns 1,103 shares of the construction company’s stock worth $134,000 after buying an additional 125 shares during the last quarter. Meritage Portfolio Management grew its stake in Meritage Homes by 5.3% during the 4th quarter. Meritage Portfolio Management now owns 2,600 shares of the construction company’s stock worth $317,000 after buying an additional 131 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Meritage Homes by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 14,962 shares of the construction company’s stock valued at $1,185,000 after purchasing an additional 139 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Meritage Homes by 4.8% in the 4th quarter. Profund Advisors LLC now owns 3,812 shares of the construction company’s stock valued at $465,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Meritage Homes Stock Performance

Meritage Homes stock opened at $85.41 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average of $79.18 and a two-hundred day moving average of $87.84. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 3.95 and a beta of 1.57. Meritage Homes Co. has a fifty-two week low of $62.51 and a fifty-two week high of $125.01.

Meritage Homes (NYSE:MTHGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The construction company reported $5.79 earnings per share for the quarter, topping the consensus estimate of $4.68 by $1.11. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. Meritage Homes had a return on equity of 28.21% and a net margin of 15.40%. Meritage Homes’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.44 earnings per share. On average, analysts anticipate that Meritage Homes Co. will post 26.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTH. Wolfe Research downgraded Meritage Homes from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. StockNews.com raised Meritage Homes from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th. Wells Fargo & Company cut Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 price target for the company. in a report on Friday, June 17th. TheStreet cut Meritage Homes from a “b-” rating to a “c” rating in a report on Wednesday, April 27th. Finally, UBS Group reduced their price target on Meritage Homes from $156.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $110.50.

About Meritage Homes

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Meritage Homes Corporation, together with its subsidiaries, 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.

Further Reading

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

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