Connable Office Inc. purchased a new position in shares of Meritage Corporation (NYSE:MTH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,833 shares of the construction company’s stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Meritage Corporation by 53,081.0% in the first quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock worth $197,292,000 after buying an additional 5,351,091 shares during the last quarter. Vanguard Group Inc. raised its position 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 last quarter. Fisher Asset Management LLC raised its position in shares of Meritage Corporation by 0.7% in the second quarter. Fisher Asset Management LLC now owns 1,719,947 shares of the construction company’s stock worth $72,582,000 after buying an additional 12,375 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Meritage Corporation by 12.1% in the first quarter. Macquarie Group Ltd. now owns 1,552,594 shares of the construction company’s stock worth $57,135,000 after buying an additional 167,725 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Meritage Corporation by 9.1% in the first quarter. Earnest Partners LLC now owns 1,386,256 shares of the construction company’s stock worth $51,014,000 after buying an additional 115,181 shares during the last quarter. 97.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Meritage Corporation (MTH) opened at 42.45 on Friday. Meritage Corporation has a 12 month low of $29.70 and a 12 month high of $44.45. The stock has a 50 day moving average of $42.23 and a 200-day moving average of $38.92. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 11.68 and a beta of 1.47.

Meritage Corporation (NYSE:MTH) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $0.95 EPS. Meritage Corporation’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts forecast that Meritage Corporation will post $3.78 EPS for the current year.

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MTH has been the topic of a number of research reports. Bank of America Corporation reaffirmed an “underperform” rating and issued a $38.00 price target (up previously from $36.00) on shares of Meritage Corporation in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Meritage Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price target on shares of Meritage Corporation in a research note on Thursday, April 27th. BidaskClub raised shares of Meritage Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Credit Suisse Group initiated coverage on shares of Meritage Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.13.

In related news, EVP Javier Feliciano sold 1,009 shares of the 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP C Timothy White sold 7,500 shares of the 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 disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

About Meritage Corporation

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

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