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.
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.
Featured Story: Net Income
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.