Shares of Meritage Homes Corp. (NYSE:MTH) were down 2.5% during trading on Monday . The stock traded as low as $38.52 and last traded at $38.90, with a volume of 241,497 shares trading hands. The stock had previously closed at $39.91.

Several analysts have commented on MTH shares. Zacks Investment Research cut Meritage Homes Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Meritage Homes Corp. in a research note on Tuesday, June 28th. Sterne Agee CRT lowered Meritage Homes Corp. from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, April 13th. They noted that the move was a valuation call. TheStreet raised Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, April 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Meritage Homes Corp. in a research note on Friday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.33.

The firm has a market cap of $1.57 billion and a P/E ratio of 12.30. The stock’s 50-day moving average price is $36.87 and its 200 day moving average price is $34.28.

Meritage Homes Corp. (NYSE:MTH) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. During the same period in the prior year, the company posted $0.40 earnings per share. The business earned $597.77 million during the quarter, compared to analysts’ expectations of $539.97 million. The firm’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that Meritage Homes Corp. will post $3.59 earnings per share for the current year.

In other Meritage Homes Corp. news, Director Robert Gary Sarver sold 4,381 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $33.92, for a total value of $148,603.52. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $508,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald W. Haddock sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $38.11, for a total value of $285,825.00. Following the completion of the transaction, the director now directly owns 43,000 shares in the company, valued at $1,638,730. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Meritage Homes Corp. by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,359,871 shares of the company’s stock valued at $114,203,000 after buying an additional 335,676 shares during the last quarter. LSV Asset Management raised its position in shares of Meritage Homes Corp. by 11.7% in the fourth quarter. LSV Asset Management now owns 462,700 shares of the company’s stock valued at $15,727,000 after buying an additional 48,400 shares during the last quarter. Trilogy Global Advisors LP raised its position in shares of Meritage Homes Corp. by 10.4% in the fourth quarter. Trilogy Global Advisors LP now owns 447,419 shares of the company’s stock valued at $15,208,000 after buying an additional 42,119 shares during the last quarter. Dean Investment Associates LLC raised its position in shares of Meritage Homes Corp. by 16.0% in the fourth quarter. Dean Investment Associates LLC now owns 71,370 shares of the company’s stock valued at $2,426,000 after buying an additional 9,845 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Meritage Homes Corp. by 4.0% in the fourth quarter. Rhumbline Advisers now owns 67,600 shares of the company’s stock valued at $2,298,000 after buying an additional 2,615 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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