Meritage Homes Corp (MTH) : Integrated Investment Consultants reduced its stake in Meritage Homes Corp by 1.56% during the most recent quarter end. The investment management company now holds a total of 3,029 shares of Meritage Homes Corp which is valued at $102,683 after selling 48 shares in Meritage Homes Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Meritage Homes Corp makes up approximately 0.05% of Integrated Investment Consultants’s portfolio.
Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in MTH by selling 190 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 18,170 shares of MTH which is valued at $623,231. Meritage Homes Corp makes up approx 0.02% of Capstone Asset Management Co’s portfolio.Legal General Group Plc boosted its stake in MTH in the latest quarter, The investment management firm added 25,808 additional shares and now holds a total of 35,490 shares of Meritage Homes Corp which is valued at $1,217,307. Simplex Trading added MTH to its portfolio by purchasing 1,039 company shares during the most recent quarter which is valued at $35,492.Bnp Paribas Arbitrage Sa reduced its stake in MTH by selling 5,727 shares or 46.27% in the most recent quarter. The Hedge Fund company now holds 6,651 shares of MTH which is valued at $231,721.
Meritage Homes Corp opened for trading at $34.09 and hit $34.49 on the upside on Friday, eventually ending the session at $33.9, with a gain of 0.21% or 0.07 points. The heightened volatility saw the trading volume jump to 1,62,294 shares. Company has a market cap of $1,357 M.
On the company’s financial health, Meritage Homes Corp reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.80. The company had revenue of $797.90 million for the quarter, compared to analysts expectations of $752.60 million. The company’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.
Many Wall Street Analysts have commented on Meritage Homes Corp. Meritage Homes Corp was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Meritage Homes Corp was Downgraded by JP Morgan to ” Neutral” on Aug 2, 2016. Shares were Downgraded by Deutsche Bank on Aug 2, 2016 to ” Hold” and Lowered the Price Target to $ 38 from a previous price target of $41 .
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It has homebuilding operations in three regions. The West region comprises Arizona California and Colorado; Central region include Texas and the East region comprises Florida Georgia North Carolina South Carolina and Tennessee. It has nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land constructing homes marketing and selling those homes and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand other than in Tennessee where it operates under the Phillips Builders brand and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. It also operates as Monterey Homes in some markets.