Meritage Homes Corp (MTH) Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in shares of Meritage Homes Corp (NYSE:MTH) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,677 shares of the construction company’s stock after selling 6,535 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Meritage Homes worth $2,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTH. Earnest Partners LLC grew its position in Meritage Homes by 23.8% during the second quarter. Earnest Partners LLC now owns 1,715,636 shares of the construction company’s stock valued at $72,400,000 after buying an additional 329,380 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in Meritage Homes by 122.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 399,441 shares of the construction company’s stock valued at $17,735,000 after buying an additional 219,815 shares during the period. Balyasny Asset Management LLC grew its position in Meritage Homes by 91.6% during the second quarter. Balyasny Asset Management LLC now owns 407,297 shares of the construction company’s stock valued at $17,188,000 after buying an additional 194,710 shares during the period. Emerald Advisers Inc. PA grew its position in Meritage Homes by 41.9% during the third quarter. Emerald Advisers Inc. PA now owns 509,502 shares of the construction company’s stock valued at $22,622,000 after buying an additional 150,564 shares during the period. Finally, Macquarie Group Ltd. grew its position in Meritage Homes by 7.4% during the third quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock valued at $76,395,000 after buying an additional 118,335 shares during the period. Institutional investors own 98.20% of the company’s stock.

In other Meritage Homes news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total transaction of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Several equities analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Meritage Homes in a research report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price target for the company. Citigroup upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Monday, January 8th. ValuEngine upgraded shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.20.

Shares of Meritage Homes Corp (NYSE MTH) opened at $52.90 on Friday. The company has a market cap of $2,140.00, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54. Meritage Homes Corp has a fifty-two week low of $33.40 and a fifty-two week high of $55.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The business had revenue of $805.60 million for the quarter, compared to the consensus estimate of $827.40 million. Meritage Homes had a net margin of 5.04% and a return on equity of 10.81%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. equities research analysts anticipate that Meritage Homes Corp will post 3.8 EPS for the current year.

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About Meritage Homes

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 Homes (NYSE:MTH)

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