Meritage Homes Corp (NYSE:MTH) CFO Hilla Sferruzza Sells 6,900 Shares

Meritage Homes Corp (NYSE:MTH) CFO Hilla Sferruzza sold 6,900 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $102.04, for a total value of $704,076.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Meritage Homes stock traded down $2.29 during mid-day trading on Thursday, reaching $100.70. The company had a trading volume of 19,799 shares, compared to its average volume of 471,432. The business has a fifty day simple moving average of $78.34 and a 200 day simple moving average of $63.06. The company has a market cap of $3.78 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.58 and a beta of 1.75. The company has a current ratio of 1.42, a quick ratio of 9.05 and a debt-to-equity ratio of 0.49. Meritage Homes Corp has a fifty-two week low of $25.24 and a fifty-two week high of $103.32.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.52 by $0.86. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $890.96 million. Meritage Homes had a net margin of 8.35% and a return on equity of 16.93%. Research analysts forecast that Meritage Homes Corp will post 9.17 EPS for the current year.

Several research firms have commented on MTH. 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 report on Thursday, June 11th. Goldman Sachs Group raised Meritage Homes from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $64.00 to $80.00 in a report on Thursday, July 16th. BTIG Research raised Meritage Homes from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Tuesday, July 21st. TheStreet raised shares of Meritage Homes from a “c+” rating to a “b-” rating in a research report on Friday, May 22nd. Finally, ValuEngine cut shares of Meritage Homes from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. One investment 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. The stock currently has an average rating of “Buy” and a consensus price target of $82.33.

A number of institutional investors have recently added to or reduced their stakes in MTH. Creative Financial Designs Inc. ADV bought a new stake in shares of Meritage Homes in the 2nd quarter valued at $66,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Meritage Homes by 22.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,164 shares of the construction company’s stock worth $71,000 after acquiring an additional 210 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Meritage Homes during the 4th quarter valued at about $135,000. Advisor Group Holdings Inc. acquired a new stake in Meritage Homes during the first quarter worth approximately $154,000. Finally, IndexIQ Advisors LLC acquired a new position in Meritage Homes in the first quarter valued at approximately $179,000. Hedge funds and other institutional investors own 97.57% of the company’s stock.

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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