Meritage Homes Co. (NYSE:MTH - Get Free Report) Director Joseph Keough bought 4,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $66.16 per share, with a total value of $264,640.00. Following the completion of the purchase, the director now owns 41,700 shares in the company, valued at approximately $2,758,872. This represents a 10.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Meritage Homes Trading Down 2.5%
Shares of MTH stock traded down $1.64 during trading hours on Friday, reaching $64.31. The company had a trading volume of 812,982 shares, compared to its average volume of 880,012. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 4.92 and a beta of 1.37. Meritage Homes Co. has a 1-year low of $59.27 and a 1-year high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. The company has a 50 day moving average of $66.12 and a 200 day moving average of $74.31.
Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business earned $5.06 EPS. The business's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Meritage Homes Co. will post 9.44 EPS for the current year.
Meritage Homes Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, June 16th. Meritage Homes's dividend payout ratio is presently 14.06%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MTH. Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Wall Street Zen lowered Meritage Homes from a "hold" rating to a "sell" rating in a report on Monday, March 24th. UBS Group set a $107.00 price objective on Meritage Homes in a report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price target on Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective on Meritage Homes from $89.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Meritage Homes presently has an average rating of "Hold" and a consensus price target of $97.72.
Get Our Latest Analysis on MTH
Institutional Investors Weigh In On Meritage Homes
A number of institutional investors have recently made changes to their positions in MTH. M&T Bank Corp raised its position in shares of Meritage Homes by 8.1% in the fourth quarter. M&T Bank Corp now owns 2,293 shares of the construction company's stock valued at $353,000 after buying an additional 172 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Meritage Homes by 545.5% during the fourth quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after buying an additional 180 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Meritage Homes by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,758 shares of the construction company's stock worth $578,000 after purchasing an additional 186 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Meritage Homes by 5.8% in the first quarter. Crossmark Global Holdings Inc. now owns 3,439 shares of the construction company's stock worth $244,000 after purchasing an additional 189 shares during the last quarter. Finally, Alpha DNA Investment Management LLC boosted its position in Meritage Homes by 6.3% during the fourth quarter. Alpha DNA Investment Management LLC now owns 3,219 shares of the construction company's stock valued at $495,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 98.44% of the company's stock.
About Meritage Homes
(
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Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.
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