Meritage Homes Co. (NYSE:MTH) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its stake in Meritage Homes Co. (NYSE:MTHGet Rating) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,440 shares of the construction company’s stock after selling 1,134 shares during the quarter. Baird Financial Group Inc.’s holdings in Meritage Homes were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Meritage Homes by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,216,167 shares of the construction company’s stock worth $334,047,000 after acquiring an additional 23,652 shares during the last quarter. State Street Corp lifted its holdings in Meritage Homes by 3.4% during the 1st quarter. State Street Corp now owns 1,309,099 shares of the construction company’s stock worth $103,720,000 after buying an additional 43,164 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Meritage Homes by 3.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 791,112 shares of the construction company’s stock worth $62,680,000 after buying an additional 28,878 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Meritage Homes by 17.3% during the 1st quarter. Bank of New York Mellon Corp now owns 746,899 shares of the construction company’s stock worth $59,177,000 after buying an additional 110,231 shares in the last quarter. Finally, Greenhaven Associates Inc. acquired a new stake in Meritage Homes during the 2nd quarter worth approximately $53,256,000. 96.40% of the stock is currently owned by institutional investors and hedge funds.

Meritage Homes Trading Up 3.2 %

Shares of NYSE:MTH opened at $83.61 on Wednesday. Meritage Homes Co. has a 52 week low of $62.51 and a 52 week high of $125.01. The company’s 50 day moving average is $74.49 and its two-hundred day moving average is $78.65. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.06 billion, a PE ratio of 3.23 and a beta of 1.57.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTH shares. The Goldman Sachs Group reduced their target price on shares of Meritage Homes from $93.00 to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, October 12th. UBS Group increased their target price on shares of Meritage Homes from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 29th. StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Meritage Homes from $78.00 to $90.00 in a report on Tuesday. Finally, Wedbush dropped their price objective on shares of Meritage Homes from $130.00 to $102.00 and set an “outperform” rating on the stock in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Meritage Homes has an average rating of “Hold” and a consensus target price of $94.00.

Meritage Homes Profile

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Meritage Homes Corporation, together with its subsidiaries, 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.

See Also

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

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