Meritage Homes Co. (NYSE:MTH) Stock Position Reduced by Royce & Associates LP

Royce & Associates LP lessened its position in shares of Meritage Homes Co. (NYSE:MTHGet 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 %

Shares of MTH stock opened at $86.94 on Friday. Meritage Homes Co. has a 1 year low of $62.51 and a 1 year high of $125.01. The stock has a market cap of $3.18 billion, a PE ratio of 3.61 and a beta of 1.61. The business’s fifty day moving average is $80.25 and its 200-day moving average is $86.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 0.74.

Meritage Homes (NYSE:MTHGet 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

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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.

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

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