Meritage Homes Corp (MTH) Stake Lessened by Trexquant Investment LP

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Trexquant Investment LP lowered its position in Meritage Homes Corp (NYSE:MTH) by 59.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,153 shares of the construction company’s stock after selling 11,908 shares during the period. Trexquant Investment LP’s holdings in Meritage Homes were worth $358,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in shares of Meritage Homes by 4.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 24,544 shares of the construction company’s stock worth $1,111,000 after purchasing an additional 1,153 shares during the period. Profund Advisors LLC lifted its position in shares of Meritage Homes by 21.6% in the 1st quarter. Profund Advisors LLC now owns 6,932 shares of the construction company’s stock worth $314,000 after purchasing an additional 1,230 shares during the period. California Public Employees Retirement System lifted its position in shares of Meritage Homes by 2.2% in the 1st quarter. California Public Employees Retirement System now owns 61,544 shares of the construction company’s stock worth $2,785,000 after purchasing an additional 1,301 shares during the period. Rhumbline Advisers lifted its position in shares of Meritage Homes by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 96,006 shares of the construction company’s stock worth $4,219,000 after purchasing an additional 1,556 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Meritage Homes by 24.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 8,970 shares of the construction company’s stock worth $406,000 after purchasing an additional 1,739 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Meritage Homes stock opened at $43.15 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Meritage Homes Corp has a 12-month low of $38.80 and a 12-month high of $55.50. The firm has a market cap of $1.78 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.52 and a beta of 1.15.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, July 25th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.21. Meritage Homes had a net margin of 5.21% and a return on equity of 12.17%. The company had revenue of $877.50 million for the quarter, compared to the consensus estimate of $825.47 million. During the same quarter in the previous year, the company earned $0.98 EPS. Meritage Homes’s quarterly revenue was up 9.4% compared to the same quarter last year. equities research analysts expect that Meritage Homes Corp will post 5.67 EPS for the current fiscal year.

A number of research analysts have recently issued reports on MTH shares. Zacks Investment Research upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Saturday, May 5th. Bank of America upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating in a research report on Monday, May 14th. Citigroup started coverage on shares of Meritage Homes in a research report on Tuesday, June 19th. They issued a “buy” rating and a $55.00 price target on the stock. ValuEngine downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Finally, Credit Suisse Group dropped their price target on shares of Meritage Homes from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.30.

Meritage Homes Company Profile

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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

Further Reading: Short Selling

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

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