State of Alaska Department of Revenue Has $819,000 Holdings in Meritage Homes Corp (MTH)

State of Alaska Department of Revenue grew its holdings in shares of Meritage Homes Corp (NYSE:MTH) by 46.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 18,338 shares of the construction company’s stock after acquiring an additional 5,788 shares during the quarter. State of Alaska Department of Revenue’s holdings in Meritage Homes were worth $819,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MTH. Meeder Asset Management Inc. boosted its position in Meritage Homes by 531.3% during the 4th quarter. Meeder Asset Management Inc. now owns 707 shares of the construction company’s stock worth $26,000 after acquiring an additional 595 shares during the period. Captrust Financial Advisors boosted its position in Meritage Homes by 126.0% during the 4th quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock worth $40,000 after acquiring an additional 611 shares during the period. Quantamental Technologies LLC acquired a new position in Meritage Homes during the 4th quarter worth $88,000. PNC Financial Services Group Inc. boosted its position in Meritage Homes by 25.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock worth $103,000 after acquiring an additional 572 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Meritage Homes by 11.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock worth $108,000 after acquiring an additional 304 shares during the period. Institutional investors own 97.14% of the company’s stock.

In other news, EVP C Timothy White sold 19,500 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $45.07, for a total transaction of $878,865.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hilla Sferruzza sold 750 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 16,782 shares of the company’s stock, valued at $739,414.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,611 shares of company stock valued at $3,924,400. 6.10% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on MTH. ValuEngine upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Zacks Investment Research upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Wedbush lowered Meritage Homes from an “outperform” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Thursday, January 10th. They noted that the move was a valuation call. Citigroup lowered Meritage Homes from a “buy” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $50.00 in a report on Friday, February 1st. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Meritage Homes in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.31.

Shares of Meritage Homes stock opened at $49.38 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.89 billion, a PE ratio of 8.85, a PEG ratio of 1.12 and a beta of 1.15. Meritage Homes Corp has a fifty-two week low of $32.02 and a fifty-two week high of $49.83.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, January 30th. The construction company reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.39. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $958.84 million. Meritage Homes had a return on equity of 13.49% and a net margin of 6.47%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Equities analysts anticipate that Meritage Homes Corp will post 4.62 earnings per share for the current fiscal year.

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

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