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

Shares of MTH opened at $99.18 on Friday. The company’s fifty day moving average is $79.39 and its 200 day moving average 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 PE ratio of 11.57, a P/E/G ratio of 0.59 and a beta of 1.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 9.05 and a current ratio of 1.42.

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, topping the consensus estimate of $1.52 by $0.86. Meritage Homes had a net margin of 8.35% and a return on equity of 16.93%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $890.96 million. As a group, research analysts forecast that Meritage Homes Corp will post 9.17 earnings per share for the current year.

Several research firms have recently issued reports on MTH. Goldman Sachs Group upgraded shares of Meritage Homes from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $64.00 to $80.00 in a research report on Thursday, July 16th. Credit Suisse Group lifted their price objective on shares of Meritage Homes from $96.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upgraded shares of Meritage Homes from a “neutral” rating to an “overweight” rating and set a $88.00 price objective on the stock in a research report on Thursday, June 11th. Wells Fargo & Co lifted their price objective on shares of Meritage Homes from $40.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, ValuEngine cut shares of Meritage Homes from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $82.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of MTH. Norges Bank purchased a new position in Meritage Homes during the fourth quarter worth $26,673,000. Echo Street Capital Management LLC purchased a new position in Meritage Homes during the first quarter worth $11,635,000. Nuveen Asset Management LLC boosted its stake in Meritage Homes by 137.3% during the first quarter. Nuveen Asset Management LLC now owns 466,100 shares of the construction company’s stock worth $17,018,000 after buying an additional 269,693 shares during the period. Macquarie Group Ltd. boosted its stake in Meritage Homes by 11.2% during the fourth quarter. Macquarie Group Ltd. now owns 1,042,604 shares of the construction company’s stock worth $63,714,000 after buying an additional 104,982 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Meritage Homes by 15.0% during the first quarter. Acadian Asset Management LLC now owns 540,458 shares of the construction company’s stock worth $19,730,000 after buying an additional 70,461 shares during the period. 97.57% of the stock is owned by institutional investors.

Meritage Homes Company Profile

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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