Insider Selling: Meritage Homes Corp (NYSE:MTH) EVP Sells 7,000 Shares of Stock

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Meritage Homes Corp (NYSE:MTH) EVP Javier Feliciano sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $101.47, for a total value of $710,290.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NYSE:MTH opened at $99.18 on Friday. The business’s fifty day moving average price is $79.39 and its two-hundred day moving average price is $63.44. Meritage Homes Corp has a fifty-two week low of $25.24 and a fifty-two week high of $103.32. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 9.05.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.86. Meritage Homes had a return on equity of 16.93% and a net margin of 8.35%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $890.96 million. Research analysts expect that Meritage Homes Corp will post 9.17 EPS for the current fiscal year.

A number of brokerages have recently commented on MTH. Cfra cut their price target on Meritage Homes from $87.00 to $65.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 29th. ValuEngine lowered Meritage Homes from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. BTIG Research upgraded Meritage Homes from a “neutral” rating to a “buy” rating and set a $109.00 price target for the company in a report on Tuesday, July 21st. Credit Suisse Group boosted their price objective on Meritage Homes from $96.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Evercore ISI upgraded Meritage Homes to an “outperform” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $82.33.

A number of large investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. grew its position in Meritage Homes by 22.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,164 shares of the construction company’s stock valued at $71,000 after acquiring an additional 210 shares during the period. Eqis Capital Management Inc. grew its position in Meritage Homes by 4.0% in the first quarter. Eqis Capital Management Inc. now owns 8,289 shares of the construction company’s stock valued at $603,000 after acquiring an additional 316 shares during the period. Mason Street Advisors LLC grew its position in Meritage Homes by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 12,539 shares of the construction company’s stock valued at $766,000 after acquiring an additional 320 shares during the period. Arlington Capital Management Inc. grew its position in Meritage Homes by 2.6% in the first quarter. Arlington Capital Management Inc. now owns 16,451 shares of the construction company’s stock valued at $601,000 after acquiring an additional 415 shares during the period. Finally, Comerica Bank grew its holdings in shares of Meritage Homes by 1.1% during the first quarter. Comerica Bank now owns 46,954 shares of the construction company’s stock worth $2,000,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.

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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