Insider Selling: Meritage Homes Co. (NYSE:MTH) CAO Sells 152 Shares of Stock

Meritage Homes Co. (NYSE:MTH) CAO Alison Sasser sold 152 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.63, for a total transaction of $11,191.76. Following the completion of the sale, the chief accounting officer now owns 6,330 shares in the company, valued at $466,077.90. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Alison Sasser also recently made the following trade(s):

• On Wednesday, February 19th, Alison Sasser sold 676 shares of Meritage Homes stock. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28.
• On Wednesday, February 12th, Alison Sasser sold 260 shares of Meritage Homes stock. The stock was sold at an average price of $73.29, for a total transaction of $19,055.40.

Meritage Homes Stock Performance

MTH traded down $1.52 during trading on Monday, reaching $72.26. 931,823 shares of the company’s stock were exchanged, compared to its average volume of 954,799. The company’s fifty day simple moving average is $80.38 and its 200-day simple moving average is $90.04. The stock has a market capitalization of $5.19 billion, a P/E ratio of 5.53 and a beta of 1.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. Meritage Homes Co. has a 1 year low of $71.05 and a 1 year high of $106.99.

Meritage Homes (NYSE:MTH) last issued its earnings results on Wednesday, January 29th. The construction company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. As a group, research analysts predict that Meritage Homes Co. will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Monday, March 17th. This is a boost from Meritage Homes’s previous quarterly dividend of $0.38. Meritage Homes’s payout ratio is 13.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTH shares. Keefe, Bruyette & Woods lowered their price objective on Meritage Homes from $97.00 to $90.00 and set a “market perform” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday, January 11th. UBS Group cut their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and issued a $103.00 target price on shares of Meritage Homes in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $98.50 price target (down previously from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.25.

Institutional Trading of Meritage Homes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Holdings LLC purchased a new stake in Meritage Homes in the 4th quarter worth approximately $31,000. Allworth Financial LP lifted its stake in shares of Meritage Homes by 545.5% in the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. Assetmark Inc. boosted its holdings in Meritage Homes by 53.6% during the third quarter. Assetmark Inc. now owns 172 shares of the construction company’s stock worth $35,000 after buying an additional 60 shares in the last quarter. CWM LLC grew its position in Meritage Homes by 15.5% during the third quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after buying an additional 58 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Meritage Homes in the fourth quarter valued at $92,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Company Profile

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.