Meritage Corporation (MTH) Stake Reduced by UBS Group AG
UBS Group AG decreased its stake in Meritage Corporation (NYSE:MTH) by 52.6% during the first quarter, Holdings Channel reports. The institutional investor owned 4,802 shares of the construction company’s stock after selling 5,327 shares during the period. UBS Group AG’s holdings in Meritage Corporation were worth $176,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MTH. Vanguard Group Inc. boosted its stake in shares of Meritage Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 3,297,377 shares of the construction company’s stock worth $121,343,000 after buying an additional 165,702 shares during the period. Hexavest Inc. boosted its stake in shares of Meritage Corporation by 4.1% in the first quarter. Hexavest Inc. now owns 879,338 shares of the construction company’s stock worth $32,360,000 after buying an additional 34,497 shares during the period. Emerald Advisers Inc. PA boosted its stake in shares of Meritage Corporation by 65.8% in the first quarter. Emerald Advisers Inc. PA now owns 375,663 shares of the construction company’s stock worth $13,824,000 after buying an additional 149,117 shares during the period. Geode Capital Management LLC boosted its stake in shares of Meritage Corporation by 9.6% in the first quarter. Geode Capital Management LLC now owns 304,206 shares of the construction company’s stock worth $11,193,000 after buying an additional 26,585 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Meritage Corporation by 3.9% in the first quarter. Principal Financial Group Inc. now owns 286,639 shares of the construction company’s stock worth $10,548,000 after buying an additional 10,724 shares during the period. 97.13% of the stock is owned by institutional investors and hedge funds.
Shares of Meritage Corporation (MTH) traded down 0.68% during mid-day trading on Wednesday, hitting $43.80. The company’s stock had a trading volume of 37,832 shares. The stock’s 50 day moving average price is $41.91 and its 200 day moving average price is $38.68. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 12.04 and a beta of 1.47. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $44.45.
Meritage Corporation (NYSE:MTH) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.23. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The company had revenue of $802 million for the quarter, compared to analysts’ expectations of $760.39 million. During the same period last year, the firm earned $0.95 EPS. Meritage Corporation’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts forecast that Meritage Corporation will post $3.78 EPS for the current year.
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A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Meritage Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, April 11th. BidaskClub upgraded Meritage Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Deutsche Bank AG raised their target price on Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $37.00 target price on shares of Meritage Corporation in a report on Thursday, April 27th. Finally, Credit Suisse Group assumed coverage on Meritage Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.13.
In related news, EVP C Timothy White sold 7,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $41.36, for a total value of $310,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.
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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