Captrust Financial Advisors lifted its position in Meritage Homes Corp (NYSE:MTH) by 126.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,096 shares of the construction company’s stock after purchasing an additional 611 shares during the quarter. Captrust Financial Advisors’ holdings in Meritage Homes were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Meritage Homes by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,771,037 shares of the construction company’s stock worth $150,464,000 after purchasing an additional 95,924 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Meritage Homes by 7.6% in the third quarter. Panagora Asset Management Inc. now owns 266,319 shares of the construction company’s stock worth $10,626,000 after purchasing an additional 18,720 shares during the last quarter. Commonwealth Bank of Australia purchased a new position in shares of Meritage Homes in the third quarter worth about $243,000. Xact Kapitalforvaltning AB raised its stake in shares of Meritage Homes by 49.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,523 shares of the construction company’s stock worth $423,000 after purchasing an additional 3,800 shares during the last quarter. Finally, B. Riley Financial Inc. purchased a new position in shares of Meritage Homes in the third quarter worth about $432,000. Hedge funds and other institutional investors own 98.27% of the company’s stock.
Meritage Homes stock opened at $41.97 on Wednesday. The stock has a market cap of $1.65 billion, a P/E ratio of 7.52, a P/E/G ratio of 0.99 and a beta of 1.15. Meritage Homes Corp has a 52 week low of $32.02 and a 52 week high of $48.70. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.
In other Meritage Homes news, CEO Steven J. Hilton sold 27,877 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $43.40, for a total value of $1,209,861.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Hilla Sferruzza sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $44.06, for a total value of $33,045.00. Following the completion of the sale, the chief financial officer now directly owns 16,782 shares in the company, valued at $739,414.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,611 shares of company stock worth $3,924,400. 5.50% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Meritage Homes from a “neutral” rating to an “underweight” rating and set a $36.00 price objective for the company. in a research note on Thursday, March 7th. Wedbush reduced their price objective on Meritage Homes from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. JMP Securities lowered Meritage Homes from an “outperform” rating to a “market perform” rating and set a $45.08 target price on the stock. in a report on Friday, February 1st. Citigroup lowered Meritage Homes from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $50.00 in a report on Friday, February 1st. They noted that the move was a valuation call. Finally, ValuEngine raised Meritage Homes from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $44.31.
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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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