Raymond James & Associates Has $1.77 Million Stake in Meritage Homes Co. (NYSE:MTH)

Raymond James & Associates increased its stake in shares of Meritage Homes Co. (NYSE:MTHGet Rating) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,183 shares of the construction company’s stock after acquiring an additional 645 shares during the period. Raymond James & Associates owned about 0.07% of Meritage Homes worth $1,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eqis Capital Management Inc. raised its holdings in shares of Meritage Homes by 4.1% during the third quarter. Eqis Capital Management Inc. now owns 5,106 shares of the construction company’s stock worth $359,000 after acquiring an additional 199 shares during the period. Ronald Blue Trust Inc. raised its holdings in shares of Meritage Homes by 139.2% during the third quarter. Ronald Blue Trust Inc. now owns 476 shares of the construction company’s stock worth $34,000 after acquiring an additional 277 shares during the period. Koshinski Asset Management Inc. acquired a new stake in shares of Meritage Homes during the third quarter worth $2,236,000. ARGI Investment Services LLC raised its holdings in shares of Meritage Homes by 13.9% during the third quarter. ARGI Investment Services LLC now owns 38,130 shares of the construction company’s stock worth $2,679,000 after acquiring an additional 4,663 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Meritage Homes during the third quarter worth $1,230,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTH. The Goldman Sachs Group lifted their price target on shares of Meritage Homes from $87.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, January 12th. KeyCorp lifted their price target on shares of Meritage Homes from $87.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, November 14th. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research note on Tuesday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Meritage Homes from $78.00 to $90.00 in a research note on Tuesday, November 22nd. Finally, TheStreet upgraded shares of Meritage Homes from a “c+” rating to a “b-” rating in a research note on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Meritage Homes presently has a consensus rating of “Hold” and a consensus target price of $97.00.

Meritage Homes Stock Up 2.0 %

Meritage Homes stock opened at $102.83 on Wednesday. The firm has a market capitalization of $3.76 billion, a PE ratio of 3.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.79. The company’s 50-day moving average is $91.83 and its 200-day moving average is $83.21. Meritage Homes Co. has a fifty-two week low of $62.51 and a fifty-two week high of $107.72.

Meritage Homes (NYSE:MTHGet Rating) last announced its earnings results on Wednesday, October 26th. The construction company reported $7.10 EPS for the quarter, topping the consensus estimate of $6.41 by $0.69. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.63 billion. Meritage Homes had a net margin of 16.68% and a return on equity of 29.08%. Sell-side analysts anticipate that Meritage Homes Co. will post 26.68 earnings per share for the current year.

About Meritage Homes

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Meritage Homes Corp. designs and builds single family homes. It offers variety of entry-level and first move-up homes. The firm operates through the following segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company’s subsidiary, Carefree Title.

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

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