Acadian Asset Management LLC Sells 117,498 Shares of Meritage Homes Co. (NYSE:MTH)

Acadian Asset Management LLC trimmed its position in shares of Meritage Homes Co. (NYSE:MTH) by 47.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,764 shares of the construction company’s stock after selling 117,498 shares during the period. Acadian Asset Management LLC owned about 0.34% of Meritage Homes worth $11,835,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MTH. Norges Bank bought a new position in Meritage Homes during the 4th quarter valued at about $61,734,000. BlackRock Inc. grew its holdings in Meritage Homes by 7.6% during the 1st quarter. BlackRock Inc. now owns 6,627,049 shares of the construction company’s stock valued at $609,159,000 after purchasing an additional 465,308 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Meritage Homes by 133.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 632,577 shares of the construction company’s stock valued at $52,390,000 after buying an additional 361,416 shares during the period. Phoenix Holdings Ltd. purchased a new stake in Meritage Homes in the 1st quarter valued at about $31,201,000. Finally, Boston Partners purchased a new stake in Meritage Homes in the 1st quarter valued at about $24,979,000. Institutional investors own 96.98% of the company’s stock.

Shares of MTH opened at $97.18 on Friday. The stock has a 50 day simple moving average of $102.88. Meritage Homes Co. has a fifty-two week low of $66.28 and a fifty-two week high of $120.19. The stock has a market cap of $3.68 billion, a PE ratio of 7.69 and a beta of 1.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.63.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, April 28th. The construction company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.97. Meritage Homes had a net margin of 10.35% and a return on equity of 21.26%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company earned $1.83 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, equities analysts expect that Meritage Homes Co. will post 14.62 earnings per share for the current fiscal year.

In related news, Director Raymond Oppel sold 6,500 shares of the stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $110.41, for a total transaction of $717,665.00. Following the completion of the sale, the director now owns 8,500 shares of the company’s stock, valued at $938,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald W. Haddock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $112.59, for a total transaction of $225,180.00. The disclosure for this sale can be found here. Insiders have sold 20,700 shares of company stock valued at $2,246,975 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Several equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Meritage Homes in a research report on Tuesday, March 16th. They issued a “peer perform” rating for the company. KeyCorp boosted their price objective on shares of Meritage Homes from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, April 19th. Wells Fargo & Company assumed coverage on shares of Meritage Homes in a research report on Wednesday, April 21st. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Zacks Investment Research raised shares of Meritage Homes from a “hold” rating to a “strong-buy” rating and set a $124.00 price objective for the company in a research report on Monday, May 31st. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $109.25.

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 title insurance and closing/settlement services to its homebuyers.

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

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