Insider Selling: Meritage Homes Co. (NYSE:MTH) CAO Sells 260 Shares of Stock

Meritage Homes Co. (NYSE:MTH - Get Free Report) CAO Alison Sasser sold 260 shares of Meritage Homes stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $73.29, for a total transaction of $19,055.40. Following the completion of the sale, the chief accounting officer now owns 4,166 shares of the company's stock, valued at approximately $305,326.14. This trade represents a 5.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Meritage Homes Stock Performance

Shares of NYSE:MTH traded up $0.25 on Monday, hitting $73.75. The company's stock had a trading volume of 632,167 shares, compared to its average volume of 947,194. Meritage Homes Co. has a 12 month low of $72.19 and a 12 month high of $106.99. The stock's 50-day moving average is $81.56 and its two-hundred day moving average is $90.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 5.64 and a beta of 1.88.

Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. On average, equities research analysts forecast that Meritage Homes Co. will post 10.02 EPS for the current year.

Meritage Homes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.375 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $1.50 dividend on an annualized basis and a yield of 2.03%. Meritage Homes's dividend payout ratio (DPR) is 11.47%.

Wall Street Analyst Weigh In

A number of research firms have commented on MTH. StockNews.com downgraded Meritage Homes from a "hold" rating to a "sell" rating in a report on Saturday, January 11th. UBS Group lowered their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods dropped their price target on Meritage Homes from $97.00 to $90.00 and set a "market perform" rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on Meritage Homes from $117.50 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $98.50 target price (down from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $106.25.

Hedge Funds Weigh In On Meritage Homes

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Meritage Homes in the third quarter valued at $28,000. Pinnacle Holdings LLC acquired a new position in Meritage Homes during the fourth quarter worth about $31,000. Allworth Financial LP lifted its holdings in 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 acquiring an additional 180 shares during the last quarter. Assetmark Inc. boosted its position in shares of Meritage Homes by 53.6% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the construction company's stock valued at $35,000 after purchasing an additional 60 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Meritage Homes by 15.5% during the 3rd quarter. CWM LLC now owns 433 shares of the construction company's stock valued at $89,000 after purchasing an additional 58 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

About Meritage Homes

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.