Meritage Corporation (MTH) Shares Bought by Swiss National Bank
Swiss National Bank boosted its position in shares of Meritage Corporation (NYSE:MTH) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 61,600 shares of the company’s stock after buying an additional 700 shares during the period. Swiss National Bank owned about 0.15% of Meritage Corporation worth $2,138,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Rocky Mountain Advisers LLC purchased a new position in shares of Meritage Corporation during the second quarter worth approximately $113,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Meritage Corporation during the second quarter worth approximately $173,000. PineBridge Investments L.P. boosted its position in shares of Meritage Corporation by 4.4% in the second quarter. PineBridge Investments L.P. now owns 4,719 shares of the company’s stock worth $177,000 after buying an additional 198 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Meritage Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,270 shares of the company’s stock worth $198,000 after buying an additional 639 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of Meritage Corporation during the second quarter worth approximately $273,000. 99.80% of the stock is owned by institutional investors and hedge funds.
Shares of Meritage Corporation (NYSE:MTH) opened at 35.35 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 9.86 and a beta of 1.35. The firm’s 50-day moving average price is $36.28 and its 200 day moving average price is $35.50. Meritage Corporation has a 1-year low of $25.48 and a 1-year high of $41.22.
Meritage Corporation (NYSE:MTH) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business earned $735.90 million during the quarter, compared to the consensus estimate of $751 million. Meritage Corporation had a return on equity of 11.50% and a net margin of 5.14%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. On average, equities research analysts forecast that Meritage Corporation will post $3.46 EPS for the current fiscal year.
A number of equities analysts have commented on the company. Zacks Investment Research cut Meritage Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Barclays PLC assumed coverage on Meritage Corporation in a report on Thursday, January 5th. They set an “underweight” rating and a $36.00 target price for the company. Evercore ISI assumed coverage on Meritage Corporation in a report on Monday, November 14th. They set a “buy” rating for the company. Finally, Wells Fargo & Company started coverage on Meritage Corporation in a report on Wednesday, September 28th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Meritage Corporation currently has a consensus rating of “Hold” and a consensus target price of $37.81.
In other news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.
Meritage Corporation Company Profile
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.
Want to see what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritage Corporation (NYSE:MTH).
Receive News & Ratings for Meritage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Corporation and related companies with MarketBeat.com's FREE daily email newsletter.