Principal Financial Group Inc. Sells 22,757 Shares of Meritage Homes Co. (NYSE:MTH)

Principal Financial Group Inc. lowered its position in shares of Meritage Homes Co. (NYSE:MTHGet Rating) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,639 shares of the construction company’s stock after selling 22,757 shares during the period. Principal Financial Group Inc. owned 0.62% of Meritage Homes worth $16,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Meritage Homes by 31.1% during the second quarter. Assenagon Asset Management S.A. now owns 30,560 shares of the construction company’s stock worth $2,216,000 after purchasing an additional 7,245 shares during the period. Ziegler Capital Management LLC increased its stake in shares of Meritage Homes by 2.6% during the second quarter. Ziegler Capital Management LLC now owns 14,005 shares of the construction company’s stock worth $1,015,000 after purchasing an additional 354 shares during the period. Los Angeles Capital Management LLC grew its position in Meritage Homes by 1.6% during the second quarter. Los Angeles Capital Management LLC now owns 47,960 shares of the construction company’s stock worth $3,477,000 after buying an additional 734 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Meritage Homes by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 13,800 shares of the construction company’s stock worth $1,001,000 after buying an additional 300 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Meritage Homes by 4.0% during the second quarter. 180 Wealth Advisors LLC now owns 4,253 shares of the construction company’s stock worth $328,000 after buying an additional 162 shares in the last quarter. Institutional investors own 96.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTH shares. Wedbush reduced their price target on Meritage Homes from $130.00 to $102.00 and set an “outperform” rating on the stock in a research report on Monday, October 10th. The Goldman Sachs Group reduced their price target on Meritage Homes from $93.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 12th. KeyCorp increased their price target on Meritage Homes from $87.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, UBS Group raised their target price on Meritage Homes from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Meritage Homes currently has a consensus rating of “Hold” and an average price target of $94.00.

Meritage Homes Trading Up 2.6 %

Shares of MTH stock opened at $85.77 on Thursday. Meritage Homes Co. has a fifty-two week low of $62.51 and a fifty-two week high of $125.01. The company has a market cap of $3.14 billion, a PE ratio of 3.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s fifty day moving average price is $74.75 and its two-hundred day moving average price is $78.70.

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.

Further Reading

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

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