Voloridge Investment Management LLC Invests $2.83 Million in Meritage Homes Corp (NYSE:MTH)

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Voloridge Investment Management LLC acquired a new position in shares of Meritage Homes Corp (NYSE:MTH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,262 shares of the construction company’s stock, valued at approximately $2,832,000. Voloridge Investment Management LLC owned about 0.11% of Meritage Homes as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bailard Inc. bought a new stake in Meritage Homes during the 2nd quarter valued at approximately $288,000. Cubist Systematic Strategies LLC acquired a new position in shares of Meritage Homes during the second quarter worth approximately $700,000. JPMorgan Chase & Co. boosted its position in shares of Meritage Homes by 574.8% in the second quarter. JPMorgan Chase & Co. now owns 214,888 shares of the construction company’s stock valued at $10,917,000 after acquiring an additional 183,044 shares during the period. Invesco Ltd. boosted its position in shares of Meritage Homes by 5.7% in the second quarter. Invesco Ltd. now owns 175,916 shares of the construction company’s stock valued at $9,032,000 after acquiring an additional 9,485 shares during the period. Finally, Comerica Bank boosted its position in shares of Meritage Homes by 37.9% in the third quarter. Comerica Bank now owns 46,676 shares of the construction company’s stock valued at $3,565,000 after acquiring an additional 12,823 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

Shares of MTH stock opened at $65.38 on Tuesday. Meritage Homes Corp has a 12 month low of $33.57 and a 12 month high of $76.83. The company has a market capitalization of $2.55 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.30 and a beta of 0.95. The stock has a 50 day moving average of $70.68 and a two-hundred day moving average of $62.43. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.30. The business had revenue of $940.90 million for the quarter, compared to analysts’ expectations of $930.41 million. Meritage Homes had a return on equity of 12.42% and a net margin of 6.29%. Meritage Homes’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 earnings per share. Sell-side analysts predict that Meritage Homes Corp will post 5.68 earnings per share for the current fiscal year.

In other news, Director Raymond Oppel sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $68.26, for a total transaction of $1,023,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven J. Hilton sold 57,899 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $67.19, for a total transaction of $3,890,233.81. The disclosure for this sale can be found here. Insiders have sold 94,399 shares of company stock worth $6,456,009 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

A number of brokerages recently issued reports on MTH. ValuEngine lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Wells Fargo & Co increased their price target on shares of Meritage Homes from $70.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Evercore ISI reissued a “hold” rating and issued a $76.00 price target on shares of Meritage Homes in a report on Thursday, November 21st. Bank of America raised their price target on shares of Meritage Homes from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upgraded shares of Meritage Homes from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $54.50 to $67.50 in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Meritage Homes has a consensus rating of “Hold” and a consensus price target of $63.06.

Meritage Homes Company Profile

Meritage Homes Corporation 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. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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

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