Meritage Homes Corp (NYSE:MTH) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 1,056,700 shares, a decrease of 19.3% from the May 30th total of 1,309,800 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 328,100 shares, the short-interest ratio is currently 3.2 days.

Several analysts recently issued reports on MTH shares. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday. Zelman & Associates upgraded Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.31.

Shares of NYSE:MTH traded up $1.48 during midday trading on Friday, hitting $55.22. 10,887 shares of the stock were exchanged, compared to its average volume of 299,435. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.75. Meritage Homes has a 52-week low of $32.02 and a 52-week high of $53.88. The stock’s fifty day moving average is $51.58. The company has a market cap of $2.08 billion, a P/E ratio of 9.82, a PEG ratio of 1.16 and a beta of 1.08.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $636.66 million. During the same period last year, the company earned $1.07 earnings per share. Meritage Homes’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Meritage Homes will post 4.81 EPS for the current fiscal year.

In other news, COO Phillippe Lord sold 3,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $152,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hilla Sferruzza sold 5,300 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $50.75, for a total value of $268,975.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MTH. Captrust Financial Advisors raised its holdings in Meritage Homes by 126.0% during the fourth quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock valued at $40,000 after buying an additional 611 shares in the last quarter. Penserra Capital Management LLC bought a new position in Meritage Homes during the first quarter valued at about $57,000. PNC Financial Services Group Inc. raised its holdings in Meritage Homes by 25.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock valued at $103,000 after buying an additional 572 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Meritage Homes by 11.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock valued at $108,000 after buying an additional 304 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Meritage Homes by 18.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,068 shares of the construction company’s stock valued at $137,000 after buying an additional 481 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

About Meritage Homes

Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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