Meritage Corporation (MTH) Shares Sold by Comerica Bank

Comerica Bank cut its stake in Meritage Corporation (NYSE:MTH) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,784 shares of the construction company’s stock after selling 2,025 shares during the period. Comerica Bank owned about 0.10% of Meritage Corporation worth $1,657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Trexquant Investment LP bought a new position in Meritage Corporation during the 1st quarter worth about $745,000. Advisors Preferred LLC bought a new position in Meritage Corporation during the 2nd quarter worth about $365,000. Swiss National Bank grew its holdings in Meritage Corporation by 1.8% during the 1st quarter. Swiss National Bank now owns 62,700 shares of the construction company’s stock worth $2,307,000 after acquiring an additional 1,100 shares in the last quarter. BlackRock Inc. grew its holdings in Meritage Corporation by 53,081.0% during the 1st quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock worth $197,292,000 after acquiring an additional 5,351,091 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Meritage Corporation during the 2nd quarter worth about $388,000. Hedge funds and other institutional investors own 98.18% of the company’s stock.

A number of research firms have recently weighed in on MTH. Barclays PLC restated an “underweight” rating and issued a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, July 5th. Deutsche Bank AG raised their price target on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Credit Suisse Group began coverage on shares of Meritage Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $41.13.

In other news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by corporate insiders.

Meritage Corporation (NYSE MTH) opened at 40.65 on Wednesday. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $44.45. The firm’s 50-day moving average is $41.81 and its 200-day moving average is $39.92. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.19 and a beta of 1.46.

Meritage Corporation (NYSE:MTH) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.23. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The business had revenue of $802.00 million during the quarter, compared to the consensus estimate of $760.39 million. During the same period in the prior year, the company earned $0.95 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Analysts predict that Meritage Corporation will post $3.80 earnings per share for the current year.

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About Meritage Corporation

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.

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

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