Insider Sale: Chairman of Meritage Homes Co. (NYSE: MTH) Sells 38,087 Shares


Meritage Homes Co. (NYSE: MTH) President Steven J. Hilton sold 38,087 shares in a trade that took place on Friday, November 19. The shares were sold at an average price of $ 120.28, for a total transaction of $ 4,581,104.36. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE: MTH traded up $ 0.61 during trading hours on Tuesday, reaching $ 118.65. 301,441 shares of the company were traded, for an average volume of 392,155. The company has a market capitalization of $ 4.43 billion, a price / earnings ratio of 7.01 and a beta of 1.71. The company has a 50-day moving average of $ 105.85 and a 200-day moving average of $ 104.12. The company has a quick ratio of 1.36, a current ratio of 1.36, and a debt ratio of 0.41. Meritage Homes Co. has a one year minimum of $ 78.00 and a one year maximum of $ 123.28.

Meritage Homes (NYSE: MTH) last released its quarterly results on Wednesday, October 27. The construction company reported earnings of $ 5.25 per share for the quarter, beating the Zacks’ consensus estimate of $ 4.45 by $ 0.80. The company posted revenue of $ 1.26 billion in the quarter, against analysts’ expectations of $ 1.19 billion. Maisons Méritage had a net margin of 12.91% and a return on equity of 25.40%. The quarterly revenues of Maisons Méritage increased by 10.7% compared to the same quarter last year. In the same quarter of the previous year, the company made EPS of $ 2.84. Research analysts predict that Meritage Homes Co. will post 19.2 EPS for the current fiscal year.

Large investors recently changed their holdings of stocks. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Meritage Homes during the 3rd quarter for a value of $ 26,000. Eaton Vance Management acquired a new 1st quarter equity interest in Meritage Homes valued at $ 29,000. Cullen Frost Bankers Inc. acquired a new stake in the shares of Meritage Homes in the second quarter valued at $ 32,000. Van ECK Associates Corp increased its stake in shares of Meritage Homes by 128.4% in the second quarter. Van ECK Associates Corp now owns 482 shares of the construction company valued at $ 45,000 after acquiring an additional 271 shares during the period. Finally, Private Capital Group LLC increased its stake in the shares of Meritage Homes by 13.4% in the 3rd quarter. Private Capital Group LLC now owns 1,055 shares of the construction company valued at $ 102,000 after acquiring 125 additional shares during the period. Hedge funds and other institutional investors hold 95.54% of the company’s shares.

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MTH has been the subject of a number of recent analyst reports. KeyCorp increased its price target on Meritage Homes shares from $ 130.00 to $ 145.00 and rated the company as “overweight” in a research report released on Friday, October 29. Wolfe Research upgraded Meritage Homes shares from a “peer performance” rating to an “outperformance” rating and set a target price of $ 130.00 for the company in a report released on Wednesday August 4th. . JPMorgan Chase & Co. upgraded Meritage Homes shares from “neutral” to “overweight” and lowered its target price for the company from $ 158.00 to $ 143.00 in a report released on Thursday October 14. Finally, Zacks Investment Research upgraded Meritage Homes shares from a “hold” rating to a “strong buy” rating and set a target price of $ 126.00 for the company in a report released on Friday, November 5. Five research analysts rated the stock with a conservation rating, four issued a buy rating, and one issued a strong buy rating for the stock. According to MarketBeat data, Meritage Homes currently has an average rating of “Buy” and a consensus target price of $ 120.38.

Company profile Maisons Méritage

Meritage Homes Corp. is a holding company engaged in the development and sale of residential properties. It operates through two segments: residential construction and financial services. The residential construction segment acquires buildings and markets single-family homes. The Financial Services segment includes the activities of the Company’s subsidiary, Carefree Title.

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