Javier Feliciano Sells 946 Shares of Meritage Homes Corp (MTH) Stock

Meritage Homes Corp (NYSE:MTH) EVP Javier Feliciano sold 946 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $36.66, for a total transaction of $34,680.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of MTH stock traded up $0.51 during midday trading on Friday, reaching $38.76. 5,119 shares of the company were exchanged, compared to its average volume of 907,281. Meritage Homes Corp has a 12 month low of $32.02 and a 12 month high of $55.50. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.55 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.77.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, October 24th. The construction company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.03). Meritage Homes had a return on equity of 12.56% and a net margin of 5.43%. The business had revenue of $884.58 million during the quarter, compared to the consensus estimate of $899.55 million. On average, equities research analysts predict that Meritage Homes Corp will post 5.21 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Meritage Homes by 46.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,987 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,256 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Meritage Homes in the 2nd quarter worth approximately $232,000. Tower Research Capital LLC TRC bought a new stake in shares of Meritage Homes in the 3rd quarter worth approximately $227,000. Commonwealth Bank of Australia bought a new stake in shares of Meritage Homes in the 3rd quarter worth approximately $243,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Meritage Homes in the 2nd quarter worth approximately $272,000. Institutional investors and hedge funds own 95.24% of the company’s stock.

MTH has been the topic of a number of recent analyst reports. Deutsche Bank upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. downgraded shares of Meritage Homes from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $46.00 in a research report on Friday, September 21st. Evercore ISI upgraded shares of Meritage Homes from an “in-line” rating to an “outperform” rating and dropped their price target for the stock from $47.00 to $43.00 in a research report on Thursday, October 25th. They noted that the move was a valuation call. ValuEngine downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, Bank of America set a $51.00 price target on shares of Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.64.

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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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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