Meritage Corporation (NYSE:MTH) Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total transaction of $605,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Meritage Corporation (NYSE MTH) traded up $0.80 during mid-day trading on Friday, reaching $50.00. 1,194,000 shares of the company’s stock were exchanged, compared to its average volume of 313,205. Meritage Corporation has a twelve month low of $33.40 and a twelve month high of $55.50. The stock has a market capitalization of $2,006.22, a PE ratio of 13.16, a P/E/G ratio of 1.34 and a beta of 1.53. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Meritage (NYSE:MTH) last announced its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage had a net margin of 5.04% and a return on equity of 10.81%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. sell-side analysts predict that Meritage Corporation will post 3.8 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MTH. Vanguard Group Inc. lifted its position in Meritage by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after buying an additional 37,025 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Meritage during the 3rd quarter valued at $893,000. Principal Financial Group Inc. increased its holdings in Meritage by 2.2% during the 2nd quarter. Principal Financial Group Inc. now owns 292,999 shares of the construction company’s stock valued at $12,365,000 after purchasing an additional 6,360 shares in the last quarter. Bank of Montreal Can acquired a new stake in Meritage during the 2nd quarter valued at $388,000. Finally, Great Lakes Advisors LLC acquired a new stake in Meritage during the 2nd quarter valued at $2,367,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on MTH. UBS began coverage on shares of Meritage in a report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price objective for the company. Zacks Investment Research cut shares of Meritage from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, Citigroup boosted their price objective on shares of Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Meritage has a consensus rating of “Hold” and an average price target of $43.20.

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Meritage Company Profile

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.

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

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