Meritage Corporation (NYSE:MTH) Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total transaction of $605,640.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Meritage Corporation (NYSE MTH) traded down $0.20 during trading hours on Wednesday, hitting $49.75. 387,451 shares of the company’s stock were exchanged, compared to its average volume of 309,193. Meritage Corporation has a 52 week low of $33.40 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $2,042.52, a P/E ratio of 13.40, a PEG ratio of 1.36 and a beta of 1.53.

Meritage (NYSE:MTH) last announced its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.09. Meritage had a net margin of 5.04% and a return on equity of 10.81%. The company had revenue of $805.60 million for the quarter, compared to the consensus estimate of $827.40 million. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. research analysts expect that Meritage Corporation will post 3.8 earnings per share for the current fiscal year.

Several brokerages recently weighed in on MTH. UBS began coverage on shares of Meritage in a research note on Wednesday, October 25th. They set a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research downgraded shares of Meritage from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Citigroup upped their target price on shares of Meritage from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Meritage has a consensus rating of “Hold” and an average target price of $43.20.

Several large investors have recently made changes to their positions in the business. Arizona State Retirement System increased its position in shares of Meritage by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 19,728 shares of the construction company’s stock valued at $833,000 after purchasing an additional 100 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Meritage by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after buying an additional 328 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Meritage by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 27,667 shares of the construction company’s stock valued at $1,168,000 after buying an additional 364 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Meritage by 1.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock valued at $971,000 after buying an additional 419 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Meritage by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock valued at $172,000 after buying an additional 609 shares during the last quarter. 98.20% of the stock is currently owned by institutional investors.

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Meritage Company Profile

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.

Insider Buying and Selling by Quarter for Meritage (NYSE:MTH)

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