TIAA CREF Investment Management LLC reduced its stake in shares of Meritage Corporation (NYSE:MTH) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,310 shares of the company’s stock after selling 13,613 shares during the period. TIAA CREF Investment Management LLC owned 0.45% of Meritage Corporation worth $6,257,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in Meritage Corporation by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the company’s stock worth $619,000 after buying an additional 100 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Meritage Corporation by 3.8% in the second quarter. Ameriprise Financial Inc. now owns 192,887 shares of the company’s stock worth $7,241,000 after buying an additional 7,035 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Meritage Corporation by 3.2% in the second quarter. UBS Asset Management Americas Inc. now owns 23,246 shares of the company’s stock worth $873,000 after buying an additional 722 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Meritage Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,270 shares of the company’s stock worth $198,000 after buying an additional 639 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Meritage Corporation by 1.1% in the second quarter. Principal Financial Group Inc. now owns 261,809 shares of the company’s stock worth $9,828,000 after buying an additional 2,820 shares during the last quarter. 99.49% of the stock is owned by institutional investors and hedge funds.
Shares of Meritage Corporation (NYSE:MTH) traded down 1.73% on Friday, hitting $36.90. The stock had a trading volume of 97,784 shares. Meritage Corporation has a 52 week low of $27.98 and a 52 week high of $41.22. The firm has a 50-day moving average price of $36.13 and a 200-day moving average price of $35.38. The stock has a market capitalization of $1.48 billion, a P/E ratio of 10.29 and a beta of 1.35.
A number of equities research analysts have recently commented on the company. Barclays PLC assumed coverage on Meritage Corporation in a research note on Thursday, January 5th. They set an “underweight” rating and a $36.00 target price on the stock. Zacks Investment Research cut Meritage Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, January 12th. Finally, Evercore ISI began coverage on Meritage Corporation in a research note on Monday, November 14th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $37.81.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.
About Meritage Corporation
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 offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.
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