SG Americas Securities LLC Has $538,000 Stock Holdings in Meritage Homes Co. (NYSE:MTH)

SG Americas Securities LLC raised its holdings in Meritage Homes Co. (NYSE:MTHGet Rating) by 66.6% in the first quarter, Holdings Channel.com reports. The fund owned 6,785 shares of the construction company’s stock after acquiring an additional 2,712 shares during the quarter. SG Americas Securities LLC’s holdings in Meritage Homes were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new stake in shares of Meritage Homes in the fourth quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Meritage Homes by 45.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 388 shares of the construction company’s stock worth $47,000 after buying an additional 121 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Meritage Homes by 103.8% in the first quarter. Exchange Traded Concepts LLC now owns 597 shares of the construction company’s stock worth $47,000 after buying an additional 304 shares during the last quarter. Covestor Ltd acquired a new stake in shares of Meritage Homes in the fourth quarter worth $78,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Meritage Homes by 886.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,055 shares of the construction company’s stock worth $128,000 after buying an additional 948 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Meritage Homes from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Wells Fargo & Company cut shares of Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 target price for the company. in a research note on Friday, June 17th. TheStreet cut shares of Meritage Homes from a “b-” rating to a “c” rating in a research note on Wednesday, April 27th. Finally, The Goldman Sachs Group lowered their price target on shares of Meritage Homes from $100.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.14.

Meritage Homes Stock Up 2.2 %

Shares of NYSE MTH opened at $86.94 on Friday. The firm’s 50-day simple moving average is $80.25 and its 200 day simple moving average is $86.05. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 3.61 and a beta of 1.61. The company has a quick ratio of 1.07, a current ratio of 0.74 and a debt-to-equity ratio of 0.34. Meritage Homes Co. has a 12-month low of $62.51 and a 12-month high of $125.01.

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, topping the consensus estimate of $5.86 by $0.91. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. Meritage Homes had a net margin of 16.53% and a return on equity of 29.09%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.36 EPS. On average, research analysts expect that Meritage Homes Co. will post 26.6 earnings per share for the current fiscal year.

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.

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

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