Meritage Homes (NYSE:MTH) Reaches New 52-Week High at $183.25

Meritage Homes Co. (NYSE:MTH)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $183.25 and last traded at $179.52, with a volume of 80471 shares. The stock had previously closed at $173.12.

Wall Street Analysts Forecast Growth

MTH has been the topic of several analyst reports. StockNews.com upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group increased their target price on Meritage Homes from $151.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. Wedbush reissued an “underperform” rating and issued a $148.00 target price on shares of Meritage Homes in a research report on Thursday, April 25th. Finally, Seaport Res Ptn downgraded shares of Meritage Homes from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $172.67.

Meritage Homes Stock Performance

The business has a 50-day moving average of $161.32 and a 200 day moving average of $154.84. The company has a market cap of $6.43 billion, a PE ratio of 8.26 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.77.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $1.52. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.28 billion. Equities research analysts anticipate that Meritage Homes Co. will post 20.41 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.69%. This is an increase from Meritage Homes’s previous quarterly dividend of $0.27. Meritage Homes’s dividend payout ratio is currently 13.99%.

Insider Buying and Selling

In related news, CEO Phillippe Lord sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total transaction of $406,975.00. Following the completion of the transaction, the chief executive officer now directly owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meritage Homes news, CAO Alison Sasser sold 231 shares of Meritage Homes stock in a transaction on Friday, February 16th. The shares were sold at an average price of $152.99, for a total value of $35,340.69. Following the completion of the transaction, the chief accounting officer now directly owns 1,859 shares of the company’s stock, valued at approximately $284,408.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total transaction of $406,975.00. Following the sale, the chief executive officer now owns 100,266 shares in the company, valued at $16,322,302.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,998 shares of company stock valued at $635,171. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Meritage Homes

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Meritage Homes by 0.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 39,500 shares of the construction company’s stock valued at $4,834,000 after purchasing an additional 184 shares during the last quarter. Bailard Inc. raised its stake in shares of Meritage Homes by 12.5% in the third quarter. Bailard Inc. now owns 2,695 shares of the construction company’s stock valued at $330,000 after acquiring an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Meritage Homes by 25.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,948 shares of the construction company’s stock worth $728,000 after acquiring an additional 1,208 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Meritage Homes by 22.2% during the 3rd quarter. Mackenzie Financial Corp now owns 108,337 shares of the construction company’s stock worth $12,541,000 after purchasing an additional 19,651 shares during the period. Finally, Strs Ohio grew its holdings in Meritage Homes by 28.2% during the 3rd quarter. Strs Ohio now owns 10,900 shares of the construction company’s stock valued at $1,334,000 after purchasing an additional 2,400 shares during the last quarter. 98.44% of the stock is owned by institutional investors.

Meritage Homes Company 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.