Strs Ohio Acquires Shares of 20,100 Meritage Homes Corp (NYSE:MTH)

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Strs Ohio acquired a new stake in shares of Meritage Homes Corp (NYSE:MTH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,100 shares of the construction company’s stock, valued at approximately $1,031,000. Strs Ohio owned about 0.05% of Meritage Homes as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTH. Emerald Mutual Fund Advisers Trust raised its stake in shares of Meritage Homes by 92.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 294,548 shares of the construction company’s stock worth $13,169,000 after buying an additional 141,700 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Meritage Homes during the 2nd quarter worth approximately $5,839,000. Shell Asset Management Co. purchased a new position in shares of Meritage Homes during the 1st quarter worth approximately $464,000. GYL Financial Synergies LLC purchased a new position in shares of Meritage Homes during the 1st quarter worth approximately $650,000. Finally, Victory Capital Management Inc. raised its stake in shares of Meritage Homes by 6,014.0% during the 1st quarter. Victory Capital Management Inc. now owns 616,234 shares of the construction company’s stock worth $27,552,000 after buying an additional 606,155 shares in the last quarter. 96.49% of the stock is owned by hedge funds and other institutional investors.

In other Meritage Homes news, CEO Steven J. Hilton sold 420,974 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $63.09, for a total transaction of $26,559,249.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP C Timothy White sold 7,946 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.35, for a total value of $511,325.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 616,026 shares of company stock worth $38,883,554. 6.10% of the stock is owned by insiders.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Meritage Homes from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Monday, July 29th. ValuEngine cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup upgraded Meritage Homes from a “neutral” rating to a “buy” rating and increased their target price for the company from $55.00 to $63.00 in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.34.

Shares of NYSE:MTH opened at $63.30 on Wednesday. The company’s fifty day moving average is $57.17. The firm has a market cap of $2.39 billion, a PE ratio of 11.34, a PEG ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73. Meritage Homes Corp has a one year low of $32.02 and a one year high of $66.18.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.28. The firm had revenue of $864.60 million for the quarter, compared to analysts’ expectations of $808.02 million. Meritage Homes had a return on equity of 11.81% and a net margin of 5.94%. Meritage Homes’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 EPS. As a group, equities analysts anticipate that Meritage Homes Corp will post 5.4 EPS for the current year.

About Meritage Homes

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

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