Earnest Partners LLC grew its holdings in Meritage Homes Corp (NYSE:MTH) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,080,250 shares of the construction company’s stock after acquiring an additional 327,413 shares during the period. Meritage Homes accounts for 1.0% of Earnest Partners LLC’s portfolio, making the stock its 25th largest holding. Earnest Partners LLC owned 5.16% of Meritage Homes worth $106,509,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in Meritage Homes by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after acquiring an additional 328 shares during the period. California Public Employees Retirement System raised its position in Meritage Homes by 2.2% in the third quarter. California Public Employees Retirement System now owns 51,400 shares of the construction company’s stock worth $2,282,000 after acquiring an additional 1,100 shares during the period. Aperio Group LLC raised its position in Meritage Homes by 4.7% in the third quarter. Aperio Group LLC now owns 26,873 shares of the construction company’s stock worth $1,193,000 after acquiring an additional 1,195 shares during the period. Connable Office Inc. raised its position in Meritage Homes by 23.2% in the fourth quarter. Connable Office Inc. now owns 7,482 shares of the construction company’s stock worth $383,000 after acquiring an additional 1,407 shares during the period. Finally, Rhumbline Advisers raised its position in Meritage Homes by 1.8% in the third quarter. Rhumbline Advisers now owns 80,730 shares of the construction company’s stock worth $3,584,000 after acquiring an additional 1,414 shares during the period. Institutional investors and hedge funds own 95.24% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Thursday, February 1st. ValuEngine upgraded shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Bank of America raised their price objective on shares of Meritage Homes from $51.00 to $55.00 and gave the company an “underperform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. upgraded shares of Meritage Homes from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $44.75 to $58.00 in a research report on Wednesday, March 7th. Finally, UBS Group restated a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Meritage Homes in a research report on Wednesday, January 17th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $50.90.
Meritage Homes Corp (NYSE:MTH) opened at $45.35 on Monday. The firm has a market cap of $1,830.00, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.67 and a beta of 1.34. Meritage Homes Corp has a 52 week low of $35.75 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.87.
Meritage Homes (NYSE:MTH) last posted its earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The company had revenue of $946.40 million during the quarter, compared to analysts’ expectations of $932.94 million. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. Meritage Homes’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. equities analysts predict that Meritage Homes Corp will post 5.06 EPS for the current fiscal year.
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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.
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