Man Group plc Purchases 163,962 Shares of Meritage Homes Corp (NYSE:MTH)

Man Group plc increased its position in Meritage Homes Corp (NYSE:MTH) by 34.2% in the fourth quarter, HoldingsChannel reports. The firm owned 643,418 shares of the construction company’s stock after purchasing an additional 163,962 shares during the quarter. Man Group plc’s holdings in Meritage Homes were worth $39,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTH. Advisory Services Network LLC boosted its position in shares of Meritage Homes by 37.4% during the fourth quarter. Advisory Services Network LLC now owns 694 shares of the construction company’s stock valued at $42,000 after buying an additional 189 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Meritage Homes by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,527 shares of the construction company’s stock valued at $888,000 after acquiring an additional 200 shares during the last quarter. Eqis Capital Management Inc. boosted its holdings in shares of Meritage Homes by 2.6% during the 4th quarter. Eqis Capital Management Inc. now owns 7,973 shares of the construction company’s stock valued at $487,000 after acquiring an additional 201 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Meritage Homes by 1.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 11,010 shares of the construction company’s stock valued at $673,000 after acquiring an additional 210 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Meritage Homes by 22.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,164 shares of the construction company’s stock worth $71,000 after acquiring an additional 210 shares during the period. Institutional investors own 98.27% of the company’s stock.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Meritage Homes from $76.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. ValuEngine cut shares of Meritage Homes from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 10th. Goldman Sachs Group assumed coverage on shares of Meritage Homes in a research report on Friday, December 6th. They issued a “sell” rating and a $59.00 target price for the company. Finally, Evercore ISI upgraded shares of Meritage Homes from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $67.00 to $77.00 in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.71.

Meritage Homes stock opened at $42.11 on Thursday. Meritage Homes Corp has a 52-week low of $25.24 and a 52-week high of $76.83. The company has a market cap of $1.35 billion, a P/E ratio of 6.58, a P/E/G ratio of 0.77 and a beta of 0.83. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $59.90 and a two-hundred day simple moving average of $66.03.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $2.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.73. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Meritage Homes had a net margin of 6.83% and a return on equity of 13.52%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 EPS. Research analysts anticipate that Meritage Homes Corp will post 6.82 EPS for the current fiscal year.

In other news, COO Phillippe Lord sold 1,500 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.35, for a total value of $108,525.00. Following the completion of the sale, the chief operating officer now directly owns 26,173 shares in the company, valued at approximately $1,893,616.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald W. Haddock sold 5,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $71.89, for a total value of $359,450.00. Following the completion of the sale, the director now owns 24,500 shares of the company’s stock, valued at $1,761,305. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,826 shares of company stock valued at $5,534,778. 6.10% of the stock is owned by corporate insiders.

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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