Meritage Homes Corp. (NYSE:MTH) shares saw an uptick in trading volume on Thursday . 239,096 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 303,267 shares.The stock last traded at $38.69 and had previously closed at $38.50.

A number of brokerages have commented on MTH. FBN Securities downgraded Meritage Homes Corp. from an “outperform” rating to a “sector perform” rating in a research note on Monday, April 18th. Zacks Investment Research upgraded Meritage Homes Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday. FBR & Co restated a “hold” rating and issued a $36.00 target price on shares of Meritage Homes Corp. in a research note on Friday, April 29th. TheStreet downgraded Meritage Homes Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Meritage Homes Corp. in a research note on Tuesday, June 28th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.22.

The company has a 50 day moving average of $36.87 and a 200 day moving average of $34.28. The stock has a market cap of $1.60 billion and a PE ratio of 12.50.

Meritage Homes Corp. (NYSE:MTH) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The company had revenue of $597.77 million for the quarter, compared to analyst estimates of $539.97 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Meritage Homes Corp. will post $3.59 EPS for the current year.

In related news, Director Gerald W. Haddock sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $38.11, for a total value of $285,825.00. Following the sale, the director now owns 43,000 shares of the company’s stock, valued at $1,638,730. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter L. Ax sold 15,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $36.71, for a total transaction of $550,650.00. Following the completion of the sale, the director now directly owns 45,000 shares in the company, valued at approximately $1,651,950. The disclosure for this sale can be found here.

A number of hedge funds have bought and sold shares of the stock. Nationwide Fund Advisors boosted its stake in Meritage Homes Corp. by 7.9% in the fourth quarter. Nationwide Fund Advisors now owns 34,120 shares of the company’s stock worth $1,160,000 after buying an additional 2,506 shares during the last quarter. Rhumbline Advisers boosted its stake in Meritage Homes Corp. by 4.0% in the fourth quarter. Rhumbline Advisers now owns 67,600 shares of the company’s stock worth $2,298,000 after buying an additional 2,615 shares during the last quarter. Dean Investment Associates LLC boosted its stake in Meritage Homes Corp. by 16.0% in the fourth quarter. Dean Investment Associates LLC now owns 71,370 shares of the company’s stock worth $2,426,000 after buying an additional 9,845 shares during the last quarter. California State Teachers Retirement System boosted its stake in Meritage Homes Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 73,481 shares of the company’s stock worth $2,498,000 after buying an additional 1,160 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Meritage Homes Corp. by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 320,007 shares of the company’s stock worth $10,877,000 after buying an additional 1,800 shares during the last quarter.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.

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