Wedge Capital Management L L P NC boosted its stake in Meritage Homes Co. (NYSE:MTH – Get Rating) by 63.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,093 shares of the construction company’s stock after acquiring an additional 44,251 shares during the period. Wedge Capital Management L L P NC owned 0.31% of Meritage Homes worth $8,272,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. 180 Wealth Advisors LLC lifted its stake in Meritage Homes by 4.0% in the second quarter. 180 Wealth Advisors LLC now owns 4,253 shares of the construction company’s stock valued at $328,000 after buying an additional 162 shares during the period. RBA Wealth Management LLC lifted its stake in Meritage Homes by 3.7% in the second quarter. RBA Wealth Management LLC now owns 34,834 shares of the construction company’s stock valued at $2,525,000 after buying an additional 1,232 shares during the period. State of Alaska Department of Revenue lifted its stake in Meritage Homes by 6.7% in the second quarter. State of Alaska Department of Revenue now owns 27,759 shares of the construction company’s stock valued at $2,012,000 after buying an additional 1,735 shares during the period. Richard P Slaughter Associates Inc lifted its stake in Meritage Homes by 3.0% in the second quarter. Richard P Slaughter Associates Inc now owns 20,101 shares of the construction company’s stock valued at $1,457,000 after buying an additional 586 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Meritage Homes in the first quarter valued at approximately $1,746,000. 96.40% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. UBS Group boosted their price target on Meritage Homes from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 29th. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. The Goldman Sachs Group lowered their target price 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. Wells Fargo & Company lowered Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 target price on the stock. in a research report on Friday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.14.
Meritage Homes Trading Up 2.4 %
Meritage Homes (NYSE:MTH – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The construction company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $0.91. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Meritage Homes had a return on equity of 29.09% and a net margin of 16.53%. Meritage Homes’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.36 EPS. On average, analysts predict that Meritage Homes Co. will post 26.41 EPS for the current fiscal year.
Insider Buying and Selling at Meritage Homes
In other Meritage Homes news, CAO Alison Sasser sold 1,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $87.92, for a total value of $87,920.00. Following the completion of the transaction, the chief accounting officer now owns 1,443 shares in the company, valued at approximately $126,868.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
About Meritage Homes
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.
- Get a free copy of the StockNews.com research report on Meritage Homes (MTH)
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