Meritage Homes Corp (NYSE:MTH) Director Sells $1,015,680.00 in Stock

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Meritage Homes Corp (NYSE:MTH) Director Raymond Oppel sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $63.48, for a total transaction of $1,015,680.00. Following the transaction, the director now directly owns 56,000 shares of the company’s stock, valued at $3,554,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of MTH stock opened at $62.50 on Thursday. Meritage Homes Corp has a 12 month low of $32.02 and a 12 month high of $66.18. The stock has a market capitalization of $2.37 billion, a PE ratio of 11.20, a P/E/G ratio of 1.45 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73. The firm’s 50 day simple moving average is $55.76.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.28. Meritage Homes had a net margin of 5.94% and a return on equity of 11.81%. The business had revenue of $864.60 million during the quarter, compared to analysts’ expectations of $808.02 million. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that Meritage Homes Corp will post 5.4 earnings per share for the current year.

MTH has been the subject of several research reports. Zacks Investment Research raised shares of Meritage Homes from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Monday, July 29th. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $63.00 in a report on Thursday, July 25th. ValuEngine cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zelman & Associates raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Meritage Homes has an average rating of “Buy” and a consensus price target of $47.34.

A number of hedge funds have recently made changes to their positions in MTH. Victory Capital Management Inc. increased its holdings in Meritage Homes by 6,014.0% during the first quarter. Victory Capital Management Inc. now owns 616,234 shares of the construction company’s stock valued at $27,552,000 after buying an additional 606,155 shares during the last quarter. FMR LLC boosted its position in shares of Meritage Homes by 91.2% in the fourth quarter. FMR LLC now owns 1,037,323 shares of the construction company’s stock worth $38,091,000 after purchasing an additional 494,900 shares during the period. Norges Bank bought a new position in shares of Meritage Homes in the fourth quarter worth approximately $14,217,000. JPMorgan Chase & Co. boosted its position in shares of Meritage Homes by 574.8% in the second quarter. JPMorgan Chase & Co. now owns 214,888 shares of the construction company’s stock worth $10,917,000 after purchasing an additional 183,044 shares during the period. Finally, Emerald Advisers LLC boosted its position in shares of Meritage Homes by 75.0% in the first quarter. Emerald Advisers LLC now owns 366,050 shares of the construction company’s stock worth $16,366,000 after purchasing an additional 156,900 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

About Meritage Homes

Meritage Homes Corporation designs and builds single-family 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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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

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