Atlantic Trust Group LLC purchased a new stake in Meritage Homes Corp (NYSE:MTH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,107 shares of the construction company’s stock, valued at approximately $1,204,000. Atlantic Trust Group LLC owned 0.07% of Meritage Homes as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Meritage Homes by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after purchasing an additional 37,025 shares during the period. Earnest Partners LLC raised its position in shares of Meritage Homes by 2.2% in the third quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock valued at $77,826,000 after purchasing an additional 37,201 shares during the period. Macquarie Group Ltd. raised its position in shares of Meritage Homes by 7.4% in the third quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock valued at $76,395,000 after purchasing an additional 118,335 shares during the period. State Street Corp raised its position in shares of Meritage Homes by 4.0% in the second quarter. State Street Corp now owns 971,730 shares of the construction company’s stock valued at $41,009,000 after purchasing an additional 37,121 shares during the period. Finally, Northern Trust Corp grew its stake in Meritage Homes by 2.0% during the second quarter. Northern Trust Corp now owns 856,002 shares of the construction company’s stock valued at $36,123,000 after acquiring an additional 16,574 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors.
In other news, Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Javier Feliciano sold 1,009 shares of the company’s 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 disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.
Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. Meritage Homes had a net margin of 5.04% and a return on equity of 10.81%. The business had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. sell-side analysts expect that Meritage Homes Corp will post 3.8 earnings per share for the current year.
Several brokerages recently commented on MTH. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday. UBS Group began coverage on shares of Meritage Homes in a research note on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price objective for the company. Zacks Investment Research cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Citigroup boosted their price objective on shares of Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Meritage Homes presently has an average rating of “Hold” and a consensus price target of $43.20.
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Meritage Homes 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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