Crossmark Global Holdings Inc. acquired a new stake in Meritage Corporation (NYSE:MTH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,370 shares of the construction company’s stock, valued at approximately $682,000.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Meritage Corporation by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after acquiring an additional 37,025 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Meritage Corporation in the 2nd quarter valued at $365,000. Bank of Montreal Can purchased a new stake in shares of Meritage Corporation in the 2nd quarter valued at $388,000. BlackRock Inc. boosted its holdings in shares of Meritage Corporation by 53,081.0% in the 1st quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock valued at $197,292,000 after acquiring an additional 5,351,091 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Meritage Corporation in the 2nd quarter valued at $2,367,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.
Shares of Meritage Corporation (NYSE:MTH) opened at $49.95 on Wednesday. Meritage Corporation has a twelve month low of $33.40 and a twelve month high of $50.10. The stock has a market cap of $2,010.00, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 1.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.
Meritage Corporation (NYSE:MTH) last announced its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. Meritage Corporation had a net margin of 5.04% and a return on equity of 10.81%. The firm had revenue of $805.60 million for the quarter, compared to the consensus estimate of $827.40 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. analysts anticipate that Meritage Corporation will post 3.8 EPS for the current fiscal year.
Several research firms have recently commented on MTH. Barclays PLC reaffirmed an “underweight” rating and issued a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Deutsche Bank AG upped their price objective on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Meritage Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Citigroup Inc. upped their price objective on shares of Meritage Corporation from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, UBS AG began coverage on shares of Meritage Corporation in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.20.
Meritage Corporation Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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