Greenhaven Associates Inc. Has $2.95 Million Holdings in Meritage Homes Corp (MTH)

Greenhaven Associates Inc. grew its holdings in shares of Meritage Homes Corp (NYSE:MTH) by 10.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 73,825 shares of the construction company’s stock after acquiring an additional 7,065 shares during the quarter. Meritage Homes comprises approximately 0.0% of Greenhaven Associates Inc.’s holdings, making the stock its 20th largest position. Greenhaven Associates Inc. owned approximately 0.18% of Meritage Homes worth $2,946,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new position in Meritage Homes during the 1st quarter worth $104,000. PNC Financial Services Group Inc. boosted its position in Meritage Homes by 46.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,987 shares of the construction company’s stock worth $175,000 after acquiring an additional 1,256 shares during the period. Paloma Partners Management Co acquired a new position in Meritage Homes during the 2nd quarter worth $232,000. Harbour Capital Advisors LLC acquired a new position in Meritage Homes during the 2nd quarter worth $252,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Meritage Homes during the 2nd quarter worth $272,000. Institutional investors own 93.64% of the company’s stock.

Shares of MTH traded down $1.49 during midday trading on Wednesday, reaching $34.51. The stock had a trading volume of 51,320 shares, compared to its average volume of 398,001. Meritage Homes Corp has a 52 week low of $34.54 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.62 billion, a PE ratio of 8.88, a P/E/G ratio of 0.48 and a beta of 1.06.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, July 25th. The construction company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.21. Meritage Homes had a return on equity of 12.17% and a net margin of 5.21%. The company had revenue of $877.50 million for the quarter, compared to the consensus estimate of $825.47 million. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Meritage Homes Corp will post 5.67 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. Citigroup reiterated a “buy” rating and set a $55.00 price target on shares of Meritage Homes in a research report on Wednesday, June 27th. ValuEngine lowered Meritage Homes from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Zacks Investment Research upgraded Meritage Homes from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Monday, July 16th. Wedbush reduced their price target on Meritage Homes from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, JMP Securities reiterated a “buy” rating and set a $48.00 price target (down previously from $58.00) on shares of Meritage Homes in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Meritage Homes has a consensus rating of “Hold” and an average price target of $49.30.

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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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

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