Crossmark Global Holdings Inc. decreased its stake in shares of Meritage Homes Corp (NYSE:MTH) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,380 shares of the construction company’s stock after selling 230 shares during the period. Crossmark Global Holdings Inc.’s holdings in Meritage Homes were worth $801,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bailard Inc. acquired a new position in Meritage Homes during the 2nd quarter worth about $288,000. Cubist Systematic Strategies LLC acquired a new position in Meritage Homes during the 2nd quarter worth about $700,000. Dalton Greiner Hartman Maher & Co. acquired a new position in Meritage Homes during the 2nd quarter worth about $5,839,000. GYL Financial Synergies LLC acquired a new position in Meritage Homes during the 1st quarter worth about $650,000. Finally, State of Alaska Department of Revenue lifted its position in Meritage Homes by 54.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 28,957 shares of the construction company’s stock worth $2,036,000 after buying an additional 10,267 shares in the last quarter. Institutional investors and hedge funds own 95.06% of the company’s stock.
Shares of NYSE:MTH opened at $72.71 on Wednesday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.54 and a beta of 1.00. Meritage Homes Corp has a 1-year low of $32.02 and a 1-year high of $72.83. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $68.77 and a two-hundred day moving average price of $57.44.
Several research analysts recently issued reports on MTH shares. Bank of America upped their price target on shares of Meritage Homes from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup raised Meritage Homes from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $63.00 in a report on Thursday, July 25th. ValuEngine cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Meritage Homes from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised Meritage Homes from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $54.50 to $67.50 in a report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Meritage Homes has an average rating of “Buy” and an average price target of $54.29.
In other news, EVP C Timothy White sold 7,946 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.35, for a total value of $511,325.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond Oppel sold 15,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $68.26, for a total value of $1,023,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,425 shares of company stock valued at $44,685,523. 6.10% of the stock is currently owned by company insiders.
Meritage Homes Company Profile
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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