Great West Life Assurance Co. Can continued to hold its position in shares of Meritage Homes Corp. (NYSE:MTH) during the second quarter, Holdings Channel reports. The fund owned 3,737 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Meritage Homes Corp. were worth $136,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Meritage Homes Corp. by 86.4% in the first quarter. BlackRock Inc. now owns 3,053 shares of the company’s stock worth $112,000 after buying an additional 1,415 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Meritage Homes Corp. during the second quarter worth about $168,000. Pacad Investment Ltd. acquired a new position in shares of Meritage Homes Corp. during the first quarter worth about $259,000. Legal & General Group Plc increased its position in shares of Meritage Homes Corp. by 18.3% in the first quarter. Legal & General Group Plc now owns 9,682 shares of the company’s stock worth $349,000 after buying an additional 1,498 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Meritage Homes Corp. by 106.9% in the second quarter. BNP Paribas Arbitrage SA now owns 12,378 shares of the company’s stock worth $465,000 after buying an additional 6,394 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.
Meritage Homes Corp. (NYSE:MTH) traded down 0.18% on Friday, hitting $33.74. The stock had a trading volume of 393,972 shares. Meritage Homes Corp. has a 52-week low of $25.48 and a 52-week high of $41.33. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 9.81 and a beta of 1.38. The company has a 50 day moving average price of $34.98 and a 200-day moving average price of $36.21.
Meritage Homes Corp. (NYSE:MTH) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.15. Meritage Homes Corp. had a return on equity of 11.36% and a net margin of 5.05%. The firm had revenue of $797.90 million for the quarter, compared to the consensus estimate of $747.14 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, equities research analysts predict that Meritage Homes Corp. will post $3.57 earnings per share for the current year.
A number of brokerages have recently issued reports on MTH. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Meritage Homes Corp. in a report on Tuesday, June 28th. Zacks Investment Research raised Meritage Homes Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, July 6th. TheStreet raised Meritage Homes Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 17th. JMP Securities reaffirmed a “market perform” rating on shares of Meritage Homes Corp. in a report on Friday, June 24th. Finally, JPMorgan Chase & Co. downgraded Meritage Homes Corp. from an “overweight” rating to a “neutral” rating and set a $37.50 price target on the stock. in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $38.94.
Meritage Homes Corp. Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.
Want to see what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritage Homes Corp. (NYSE:MTH).
Receive News & Ratings for Meritage Homes Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes Corp. and related companies with MarketBeat.com's FREE daily email newsletter.