Meritage Homes Co. (NYSE:MTH) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its holdings in Meritage Homes Co. (NYSE:MTH – Get Rating) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,211 shares of the construction company’s stock after acquiring an additional 660 shares during the period. Truist Financial Corp owned about 0.22% of Meritage Homes worth $5,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. acquired a new position in shares of Meritage Homes in the third quarter worth $2,236,000. Ronald Blue Trust Inc. grew its stake in shares of Meritage Homes by 139.2% in the third quarter. Ronald Blue Trust Inc. now owns 476 shares of the construction company’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Meritage Homes in the first quarter worth $48,000. Quadrant Capital Group LLC grew its stake in shares of Meritage Homes by 71.2% in the second quarter. Quadrant Capital Group LLC now owns 647 shares of the construction company’s stock worth $47,000 after acquiring an additional 269 shares in the last quarter. Finally, Amundi grew its stake in shares of Meritage Homes by 66.4% in the second quarter. Amundi now owns 767 shares of the construction company’s stock worth $63,000 after acquiring an additional 306 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Meritage Homes Price Performance

Shares of MTH opened at $100.90 on Thursday. The firm has a fifty day moving average price of $87.71 and a 200 day moving average price of $81.66. Meritage Homes Co. has a 1-year low of $62.51 and a 1-year high of $117.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $3.69 billion, a PE ratio of 3.89 and a beta of 1.52.

Meritage Homes (NYSE:MTH – Get Rating) last announced its earnings results on Wednesday, October 26th. The construction company reported $7.10 EPS for the quarter, beating analysts’ consensus estimates of $6.41 by $0.69. Meritage Homes had a net margin of 16.68% and a return on equity of 29.08%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, sell-side analysts anticipate that Meritage Homes Co. will post 26.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTH shares. StockNews.com raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Meritage Homes from $78.00 to $90.00 in a research report on Tuesday, November 22nd. Wedbush decreased their price objective on shares of Meritage Homes from $130.00 to $102.00 and set an “outperform” rating for the company in a research report on Monday, October 10th. The Goldman Sachs Group decreased their price objective on shares of Meritage Homes from $93.00 to $82.00 and set a “neutral” rating for the company in a research report on Wednesday, October 12th. Finally, TheStreet raised shares of Meritage Homes from a “c+” rating to a “b-” rating in a research report on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Meritage Homes has a consensus rating of “Hold” and a consensus price target of $94.00.

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.