Burney Co. Has $3.85 Million Stake in Meritage Homes Co. (NYSE:MTH)

Burney Co. raised its stake in Meritage Homes Co. (NYSE:MTH) by 400.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,812 shares of the construction company’s stock after purchasing an additional 19,054 shares during the quarter. Burney Co. owned 0.07% of Meritage Homes worth $3,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Instrumental Wealth LLC purchased a new stake in Meritage Homes in the 2nd quarter valued at $169,000. First National Bank of Hutchinson purchased a new stake in shares of Meritage Homes in the second quarter valued at about $610,000. Louisiana State Employees Retirement System lifted its position in shares of Meritage Homes by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the construction company’s stock valued at $2,962,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Meritage Homes during the second quarter worth about $214,000. Finally, Summit Global Investments boosted its holdings in Meritage Homes by 1.4% during the second quarter. Summit Global Investments now owns 8,358 shares of the construction company’s stock worth $1,353,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 98.44% of the company’s stock.

Insider Activity at Meritage Homes

In other Meritage Homes news, CFO Hilla Sferruzza sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the sale, the chief financial officer now owns 44,570 shares of the company’s stock, valued at approximately $9,136,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Phillippe Lord sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $200.35, for a total value of $2,003,500.00. Following the completion of the transaction, the chief executive officer now directly owns 90,266 shares in the company, valued at $18,084,793.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hilla Sferruzza sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the transaction, the chief financial officer now owns 44,570 shares of the company’s stock, valued at $9,136,850. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,500 shares of company stock worth $3,111,080. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MTH has been the topic of several recent analyst reports. Wolfe Research raised shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price on the stock in a research report on Wednesday, August 14th. Raymond James lifted their price target on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their target price on Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their target price on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Meritage Homes presently has an average rating of “Moderate Buy” and an average price target of $208.00.

Meritage Homes Stock Performance

Shares of NYSE MTH traded down $0.07 during trading on Thursday, reaching $197.72. 91,014 shares of the stock traded hands, compared to its average volume of 422,603. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.66. The stock has a market capitalization of $7.18 billion, a P/E ratio of 9.22 and a beta of 1.80. Meritage Homes Co. has a 52-week low of $109.23 and a 52-week high of $210.58. The company has a 50-day moving average of $180.11 and a 200-day moving average of $170.45.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $1.14. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.02 EPS. Analysts forecast that Meritage Homes Co. will post 20.83 EPS for the current fiscal year.

Meritage Homes Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.