Meritage Homes Corp (NYSE:MTH) CFO Hilla Sferruzza sold 589 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total transaction of $26,622.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Meritage Homes Corp (NYSE MTH) traded up $1.25 during mid-day trading on Wednesday, reaching $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 twelve month low of $33.50 and a twelve month high of $55.50. The stock 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 current ratio of 0.87, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.
Meritage Homes (NYSE:MTH) last announced its earnings results on Thursday, February 1st. The construction company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.09. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The business had revenue of $946.40 million during the quarter, compared to analysts’ expectations of $932.94 million. During the same period in the prior year, the company earned $1.22 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. sell-side analysts predict that Meritage Homes Corp will post 5.06 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co purchased a new stake in Meritage Homes during the fourth quarter valued at approximately $435,000. Earnest Partners LLC increased its holdings in Meritage Homes by 18.7% during the fourth quarter. Earnest Partners LLC now owns 2,080,250 shares of the construction company’s stock valued at $106,509,000 after buying an additional 327,413 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Meritage Homes during the fourth quarter valued at approximately $340,000. Kemnay Advisory Services Inc. purchased a new stake in Meritage Homes during the fourth quarter valued at approximately $1,315,000. Finally, Jefferies Group LLC purchased a new stake in Meritage Homes during the fourth quarter valued at approximately $641,000. 96.01% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on MTH shares. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Bank of America raised shares of Meritage Homes from an “underperform” rating to a “neutral” rating and set a $55.00 price objective for the company in a report on Wednesday. Credit Suisse Group raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $52.00 to $60.00 in a report on Monday, January 22nd. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, January 8th. Finally, Barclays raised shares of Meritage Homes from an “underweight” rating to an “equal weight” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Meritage Homes has a consensus rating of “Buy” and an average target price 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.
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