Alliancebernstein L.P. lowered its position in shares of Meritage Corporation (NYSE:MTH) by 27.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,764 shares of the construction company’s stock after selling 22,500 shares during the period. Alliancebernstein L.P. owned 0.15% of Meritage Corporation worth $2,480,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MTH. BlackRock Inc. grew its stake in Meritage Corporation by 53,081.0% during the first quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock valued at $197,292,000 after acquiring an additional 5,351,091 shares in the last quarter. Macquarie Group Ltd. grew its stake in Meritage Corporation by 12.1% during the first quarter. Macquarie Group Ltd. now owns 1,552,594 shares of the construction company’s stock valued at $57,135,000 after acquiring an additional 167,725 shares in the last quarter. Vanguard Group Inc. grew its stake in Meritage Corporation by 5.3% during the first quarter. Vanguard Group Inc. now owns 3,297,377 shares of the construction company’s stock valued at $121,343,000 after acquiring an additional 165,702 shares in the last quarter. Earnest Partners LLC grew its stake in Meritage Corporation by 9.1% during the first quarter. Earnest Partners LLC now owns 1,386,256 shares of the construction company’s stock valued at $51,014,000 after acquiring an additional 115,181 shares in the last quarter. Finally, State Street Corp grew its stake in Meritage Corporation by 11.7% during the first quarter. State Street Corp now owns 934,609 shares of the construction company’s stock valued at $34,391,000 after acquiring an additional 98,150 shares in the last quarter. 98.18% of the stock is owned by institutional investors.

MTH has been the subject of a number of research reports. 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 for the company. Zacks Investment Research cut shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. BidaskClub raised shares of Meritage Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Barclays PLC reissued an “underweight” rating on shares of Meritage Corporation in a research note on Thursday, July 13th. Finally, Deutsche Bank AG boosted their price target on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $41.13.

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Shares of Meritage Corporation (MTH) opened at 48.15 on Friday. The stock has a market cap of $1.94 billion, a PE ratio of 13.25 and a beta of 1.48. Meritage Corporation has a 52 week low of $29.70 and a 52 week high of $48.70. The stock has a 50 day moving average of $42.57 and a 200-day moving average of $41.07.

Meritage Corporation (NYSE:MTH) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.75 by $0.23. The company had revenue of $802.00 million during the quarter, compared to analyst estimates of $760.39 million. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. Meritage Corporation’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities research analysts predict that Meritage Corporation will post $3.77 earnings per share for the current fiscal year.

In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by 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.

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

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