Virtu Financial LLC purchased a new position in shares of Meritage Homes Corp (NYSE:MTH) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,266 shares of the construction company’s stock, valued at approximately $441,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its holdings in Meritage Homes by 564.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 260,378 shares of the construction company’s stock worth $13,368,000 after buying an additional 221,205 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Meritage Homes by 1,042.4% during the 3rd quarter. Voya Investment Management LLC now owns 240,339 shares of the construction company’s stock worth $16,908,000 after buying an additional 219,301 shares in the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in Meritage Homes during the 2nd quarter worth $9,919,000. JPMorgan Chase & Co. lifted its holdings in Meritage Homes by 574.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 214,888 shares of the construction company’s stock worth $10,917,000 after buying an additional 183,044 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Meritage Homes by 297.5% during the 2nd quarter. UBS Group AG now owns 201,179 shares of the construction company’s stock worth $10,329,000 after buying an additional 150,569 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.
MTH stock opened at $65.38 on Tuesday. The business’s fifty day moving average is $70.68 and its 200-day moving average is $62.43. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.55 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.30 and a beta of 0.95. Meritage Homes Corp has a twelve month low of $33.57 and a twelve month high of $76.83.
Several research firms have issued reports on MTH. JPMorgan Chase & Co. raised Meritage Homes from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $54.50 to $67.50 in a report on Wednesday, September 11th. Wells Fargo & Co upped their price objective on Meritage Homes from $70.00 to $82.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Bank of America upped their price objective on Meritage Homes from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI reaffirmed a “hold” rating and set a $76.00 price objective on shares of Meritage Homes in a report on Thursday, November 21st. Finally, ValuEngine downgraded Meritage Homes from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.06.
In other news, Director R. Odell Michael sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $72.50, for a total value of $362,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven J. Hilton sold 57,899 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $67.19, for a total value of $3,890,233.81. The disclosure for this sale can be found here. In the last three months, insiders sold 94,399 shares of company stock worth $6,456,009. 6.10% of the stock is currently owned by company insiders.
Meritage Homes 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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