Insider Selling: Meritage Homes Corp (MTH) EVP Sells 7,333 Shares of Stock

Meritage Homes Corp (NYSE:MTH) EVP C Timothy White sold 7,333 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total value of $331,451.60. Following the sale, the executive vice president now owns 48,705 shares in the company, valued at approximately $2,201,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Meritage Homes Corp (NYSE:MTH) traded up $1.15 during trading on Wednesday, reaching $46.65. The company had a trading volume of 269,494 shares, compared to its average volume of 467,760. Meritage Homes Corp has a 52-week low of $33.50 and a 52-week high of $55.50. The firm has a market capitalization of $1,880.00, a PE ratio of 13.64, a P/E/G ratio of 0.67 and a beta of 1.29. The company has a quick ratio of 0.70, a current ratio of 0.87 and a debt-to-equity ratio of 0.81.

Meritage Homes (NYSE:MTH) last issued its earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.09. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The firm had revenue of $946.40 million for the quarter, compared to analysts’ expectations of $932.94 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. analysts predict that Meritage Homes Corp will post 5.06 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on MTH shares. ValuEngine upgraded Meritage Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Bank of America upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and set a $55.00 price objective on the stock in a report on Wednesday. Credit Suisse Group upgraded Meritage Homes from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $60.00 in a report on Monday, January 22nd. Citigroup upgraded Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, January 8th. Finally, Barclays upgraded Meritage Homes from an “underweight” rating to an “equal weight” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.11.

A number of institutional investors have recently modified their holdings of MTH. Teachers Advisors LLC boosted its holdings in Meritage Homes by 2.9% in the second quarter. Teachers Advisors LLC now owns 76,262 shares of the construction company’s stock valued at $3,218,000 after acquiring an additional 2,151 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Meritage Homes by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock worth $971,000 after purchasing an additional 419 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Meritage Homes by 1.1% during the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock worth $140,712,000 after purchasing an additional 37,025 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Meritage Homes by 2.2% during the second quarter. California Public Employees Retirement System now owns 50,300 shares of the construction company’s stock worth $2,123,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Meritage Homes during the second quarter worth about $250,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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Meritage Homes 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 Homes (NYSE:MTH)

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