Meritage Homes Co. (NYSE:MTH) reduced its position in shares of Royce & Associates LP


Royce & Associates LP reduced its position in shares of Meritage Homes Co. (NYSE: MTHGet a rating) by 54.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,998 shares of the construction company’s stock after selling 48,510 shares during the period. Royce & Associates LP owned approximately 0.11% of Meritage Homes worth $3,248,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MTH. Janney Montgomery Scott LLC bought a new position in Meritage Homes during the 4th quarter worth about $220,000. Allspring Global Investments Holdings LLC bought a new position in Meritage Homes during the 4th quarter worth about $2,110,000. Yousif Capital Management LLC acquired a new position in Meritage Homes during the 4th quarter worth about $4,238,000. Xponance Inc. bought a new position in Meritage Homes during the 4th quarter worth about $215,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Meritage Homes by 54.0% during the 4th quarter. Qube Research & Technologies Ltd now owns 6,728 shares of the construction company’s stock valued at $821,000 after purchasing an additional 2,358 shares during the period. Institutional investors own 97.11% of the company’s shares.

Upgrading and downgrading of the analyst rating

A number of analysts have recently commented on the company. Wells Fargo & Company cut Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 target price on the stock. in a research report on Friday, June 17th. StockNews.com Meritage Homes downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Goldman Sachs Group cut their price target on Meritage Homes from $100.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. JPMorgan Chase & Co. cut their price target on Meritage Homes from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Finally, TheStreet downgraded Meritage Homes from a “b-” rating to a “c” rating in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Meritage Homes has a consensus rating of “Hold” and a consensus target price of $109.14, according to MarketBeat.

Meritage Homes stock rose 2.2%

Actions MTH stock opened at $86.94 on Friday. Meritage Homes Co. has a 1 year low of $62.51 and a 1 year high of $125.01. The stock has a market cap of $3.18 billion, a PE ratio of 3.61, and a beta of 1.61. The business has a fifty-day moving average of $80.25, and a 200-day moving average of $86.05. The company has a debt-to-equity ratio of 0.34, a gearing ratio of 1.07, and a current ratio of 0.74.

Meritage Homes (NYSE: MTHGet a rating) last published its quarterly earnings results on Wednesday, July 27th. The construction company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $0.91. Meritage Homes had a return on equity of 29.09% and a net margin of 16.53%. The company reported revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $4.36 in earnings per share. The company’s revenue for the quarter grew by 10.5% compared to the same period last year. Equities analysts expect Meritage Homes Co. will earn 26.6 earnings per share in the current fiscal year.

Meritage Homes Profile

(Get a rating)

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family homes in the United States. The company operates in two segments: housing construction and financial services. He acquires and develops land; and builds, markets and sells homes for first-time and first-time buyers.

Read more

Want to know what other hedge funds are holding MTH? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for Meritage Homes Co. (NYSE: MTHGet a rating).



Get Meritage Homes news and ratings daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meritage Homes and related companies. MarketBeat.com’s FREE Daily E-Newsletter.

https://www.defenseworld.net/2022/08/05/meritage-homes-co-nysemth-stock-position-reduced-by-royce-associates-lp.html Meritage Homes Co. (NYSE:MTH) reduced its position in shares of Royce & Associates LP

Exit mobile version