Teacher Retirement System of Texas purchased a new stake in Meritage Homes Corp (NYSE:MTH) in the 4th quarter, HoldingsChannel reports. The fund purchased 12,975 shares of the construction company’s stock, valued at approximately $664,000.
A number of other institutional investors have also recently bought and sold shares of MTH. Public Employees Retirement System of Ohio raised its holdings in Meritage Homes by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares in the last quarter. Sei Investments Co. raised its holdings in Meritage Homes by 80.3% in the 3rd quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock valued at $324,000 after acquiring an additional 3,245 shares in the last quarter. Parametrica Management Ltd acquired a new position in Meritage Homes in the 4th quarter valued at approximately $458,000. Fox Run Management L.L.C. acquired a new position in Meritage Homes in the 4th quarter valued at approximately $460,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Meritage Homes in the 3rd quarter valued at approximately $682,000. 95.15% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Robert Gary Sarver sold 12,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total transaction of $605,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP C Timothy White sold 7,333 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total value of $331,451.60. Following the sale, the executive vice president now directly owns 48,705 shares of the company’s stock, valued at $2,201,466. The disclosure for this sale can be found here. Insiders have sold a total of 32,959 shares of company stock valued at $1,538,237 over the last ninety days. Insiders own 5.60% of the company’s stock.
Meritage Homes Corp (MTH) opened at $45.35 on Friday. Meritage Homes Corp has a twelve month low of $35.75 and a twelve month high of $55.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1,829.01, a P/E ratio of 11.63, a PEG ratio of 0.67 and a beta of 1.34.
Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.09. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The firm had revenue of $946.40 million during the quarter, compared to analysts’ expectations of $932.94 million. During the same period last year, the firm posted $1.22 EPS. The business’s revenue was up 7.5% on a year-over-year basis. research analysts predict that Meritage Homes Corp will post 5.06 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “12,975 Shares in Meritage Homes Corp (MTH) Acquired by Teacher Retirement System of Texas” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3255084/12975-shares-in-meritage-homes-corp-mth-acquired-by-teacher-retirement-system-of-texas.html.
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.