Phillippe Lord Sells 537 Shares of Meritage Homes Corp (MTH) Stock

Meritage Homes Corp (NYSE:MTH) insider Phillippe Lord sold 537 shares of Meritage Homes stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total transaction of $24,272.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Meritage Homes Corp (NYSE MTH) traded up $1.25 during mid-day trading on Wednesday, hitting $46.65. 269,494 shares of the company’s stock were exchanged, compared to its average volume of 467,760. Meritage Homes Corp has a 12-month low of $33.50 and a 12-month high of $55.50. The stock has a market capitalization of $1,880.00, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.70.

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

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Meritage Homes by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,593,226 shares of the construction company’s stock valued at $286,371,000 after acquiring an additional 176,270 shares during the period. Vanguard Group Inc. increased its position in shares of Meritage Homes by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after acquiring an additional 37,025 shares during the period. Earnest Partners LLC increased its position in shares of Meritage Homes by 18.7% in the fourth quarter. Earnest Partners LLC now owns 2,080,250 shares of the construction company’s stock valued at $106,509,000 after acquiring an additional 327,413 shares during the period. Macquarie Group Ltd. increased its position in shares of Meritage Homes by 7.4% in the third quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock valued at $76,395,000 after acquiring an additional 118,335 shares during the period. Finally, State Street Corp increased its position in shares of Meritage Homes by 4.0% in the second quarter. State Street Corp now owns 971,730 shares of the construction company’s stock valued at $41,009,000 after acquiring an additional 37,121 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

A number of equities analysts recently commented on MTH shares. UBS Group started coverage on shares of Meritage Homes in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price on the stock. Citigroup lifted their target price on shares of Meritage Homes from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. ValuEngine upgraded shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Credit Suisse Group upgraded shares of Meritage Homes from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $60.00 in a research report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.11.

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About Meritage Homes

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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