Insider Selling: Meritage Homes Corp (MTH) Director Sells 12,500 Shares of Stock
Meritage Homes Corp (NYSE:MTH) Director Peter L. Ax sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $44.02, for a total transaction of $550,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Meritage Homes Corp (NYSE:MTH) opened at $45.35 on Friday. The stock has a market cap of $1,829.01, a price-to-earnings ratio of 11.63, a PEG ratio of 0.67 and a beta of 1.34. Meritage Homes Corp has a 52 week low of $35.75 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.87.
Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The firm had revenue of $946.40 million during the quarter, compared to the consensus estimate of $932.94 million. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. sell-side analysts forecast that Meritage Homes Corp will post 5.06 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in MTH. Public Employees Retirement System of Ohio raised its stake in shares of Meritage Homes by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Meritage Homes during the fourth quarter valued at $232,000. Virtu Financial LLC bought a new position in shares of Meritage Homes during the fourth quarter valued at $240,000. BlueCrest Capital Management Ltd bought a new position in shares of Meritage Homes during the fourth quarter valued at $319,000. Finally, Sei Investments Co. raised its stake in shares of Meritage Homes by 80.3% during the third quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock valued at $324,000 after acquiring an additional 3,245 shares during the last quarter. 95.15% of the stock is owned by hedge funds and other institutional investors.
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Meritage Homes 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.
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