Earnest Partners LLC Increases Position in Meritage Homes Corp (NYSE:MTH)

Earnest Partners LLC lifted its holdings in Meritage Homes Corp (NYSE:MTH) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,095,284 shares of the construction company’s stock after buying an additional 13,301 shares during the period. Meritage Homes makes up approximately 1.0% of Earnest Partners LLC’s portfolio, making the stock its 29th biggest holding. Earnest Partners LLC owned 5.47% of Meritage Homes worth $107,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MTH. Bailard Inc. purchased a new position in Meritage Homes in the second quarter valued at approximately $288,000. Dalton Greiner Hartman Maher & Co. bought a new stake in Meritage Homes during the 2nd quarter valued at $5,839,000. Shell Asset Management Co. bought a new stake in Meritage Homes during the 1st quarter valued at $464,000. GYL Financial Synergies LLC bought a new stake in Meritage Homes during the 1st quarter valued at $650,000. Finally, Victory Capital Management Inc. raised its holdings in 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 valued at $27,552,000 after acquiring an additional 606,155 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

In related news, Director Raymond Oppel sold 16,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $63.48, for a total value of $1,015,680.00. Following the completion of the transaction, the director now directly owns 56,000 shares of the company’s stock, valued at $3,554,880. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven J. Hilton sold 57,899 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $67.19, for a total transaction of $3,890,233.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 687,425 shares of company stock valued at $43,661,623. 6.10% of the stock is currently owned by company insiders.



A number of brokerages have issued reports on MTH. JPMorgan Chase & Co. raised shares of Meritage Homes from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $54.50 to $67.50 in a report on Wednesday. ValuEngine cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $63.00 in a report on Thursday, July 25th. Finally, Zacks Investment Research raised shares of 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. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $50.84.

NYSE MTH opened at $69.36 on Friday. The company has a 50-day simple moving average of $63.83 and a two-hundred day simple moving average of $53.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Meritage Homes Corp has a 12-month low of $32.02 and a 12-month high of $69.18. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.47 and a beta of 1.03.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.28. The business had revenue of $864.60 million during the quarter, compared to analyst estimates of $808.02 million. Meritage Homes had a net margin of 5.94% and a return on equity of 11.81%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. Equities analysts expect that Meritage Homes Corp will post 5.4 earnings per share for the current fiscal year.

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

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