Royce & Associates LP lessened its position in shares of Meritage Homes Co. (NYSE:MTH – Get Rating) by 54.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,998 shares of the construction company’s stock after selling 48,510 shares during the period. Royce & Associates LP owned about 0.11% of Meritage Homes worth $3,248,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of MTH. Janney Montgomery Scott LLC bought a new position in Meritage Homes during the 4th quarter worth approximately $220,000. Allspring Global Investments Holdings LLC bought a new position in Meritage Homes during the 4th quarter worth approximately $2,110,000. Yousif Capital Management LLC bought a new position in Meritage Homes during the 4th quarter worth approximately $4,238,000. Xponance Inc. bought a new position in Meritage Homes during the 4th quarter worth approximately $215,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Meritage Homes by 54.0% during the 4th quarter. Qube Research & Technologies Ltd now owns 6,728 shares of the construction company’s stock worth $821,000 after purchasing an additional 2,358 shares during the period. Institutional investors own 97.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Wells Fargo & Company cut Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 price target on the stock. in a research report on Friday, June 17th. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. The Goldman Sachs Group dropped their price target on Meritage Homes from $100.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd. JPMorgan Chase & Co. dropped their price target on Meritage Homes from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Finally, TheStreet cut Meritage Homes from a “b-” rating to a “c” rating in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Meritage Homes has a consensus rating of “Hold” and a consensus target price of $109.14.
Meritage Homes Stock Up 2.2 %
Meritage Homes (NYSE:MTH – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The construction company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $0.91. Meritage Homes had a return on equity of 29.09% and a net margin of 16.53%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $4.36 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts expect that Meritage Homes Co. will post 26.6 earnings per share for the current fiscal year.
Meritage Homes Profile
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.
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