Key Points
- CFO Hilla Sferruzza sold 10,928 shares at an average price of $76.35 for ~$834,353, reducing her stake by 8.04% to 124,961 shares (worth ~$9.54M).
- Insider selling was broader: CEO Phillippe Lord and several other senior executives also sold shares (CEO sale ~32,820 shares, plus EVP and other officer sales), signaling notable insider reductions in holdings.
- Operationally, Meritage reported a quarterly EPS beat ($1.67 vs. $1.55) but revenue fell 11.9% YoY to $1.44B, and the company raised its quarterly dividend to $0.48 (annualized $1.92, yield ~2.6%; ex-dividend March 17).
Meritage Homes Corporation (NYSE:MTH - Get Free Report) EVP Javier Feliciano sold 3,580 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $76.24, for a total transaction of $272,939.20. Following the completion of the transaction, the executive vice president directly owned 44,935 shares in the company, valued at $3,425,844.40. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Meritage Homes Trading Up 0.3%
Shares of MTH traded up $0.26 during trading on Thursday, reaching $74.84. 74,082 shares of the company traded hands, compared to its average volume of 1,026,246. The stock has a 50-day simple moving average of $72.66 and a 200-day simple moving average of $72.56. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.35. Meritage Homes Corporation has a twelve month low of $59.27 and a twelve month high of $84.74. The stock has a market cap of $5.00 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48.
Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.12. Meritage Homes had a return on equity of 9.28% and a net margin of 7.73%.The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the prior year, the firm earned $4.72 earnings per share. The firm's revenue was down 11.9% compared to the same quarter last year. On average, analysts anticipate that Meritage Homes Corporation will post 9.44 earnings per share for the current year.
Meritage Homes Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Meritage Homes's previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a yield of 2.6%. Meritage Homes's dividend payout ratio (DPR) is presently 27.22%.
Key Headlines Impacting Meritage Homes
Here are the key news stories impacting Meritage Homes this week:
- Neutral Sentiment: Mithril press release mentioning ticker “MTH” is unrelated to Meritage Homes; this is an ASX/TSXV ticker and may cause ticker-confusion but has no operational impact on Meritage Homes. Read More.
- Negative Sentiment: CEO Phillippe Lord sold 32,820 shares at an average price of $76.49 (~$2.51M); this reduced his direct ownership by ~11.19% though he still holds ~260,389 shares (~$19.9M). SEC filing: Read More.
- Negative Sentiment: CFO Hilla Sferruzza sold 10,928 shares at an average price of $76.35 (~$834k), reducing her stake by ~8.04%; she still holds ~124,961 shares (~$9.54M). SEC filing: Read More.
- Negative Sentiment: EVP Javier Feliciano sold 3,580 shares at an average price of $76.24 (~$273k), a ~7.38% reduction of his holdings; he still holds ~44,935 shares (~$3.43M). SEC filing: Read More.
- Negative Sentiment: EVP Austin Woffinden sold 143 shares at ~$76.80 (~$11k), a ~0.69% reduction; he still holds ~20,595 shares (~$1.58M). SEC filing: Read More.
- Negative Sentiment: CAO Alison Sasser sold 151 shares at ~$76.80 (~$11.6k), a ~1.67% reduction; she still holds ~8,907 shares (~$684k). SEC filing: Read More.
Institutional Trading of Meritage Homes
Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC grew its stake in Meritage Homes by 63.9% in the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company's stock worth $25,000 after acquiring an additional 145 shares during the period. Larson Financial Group LLC increased its stake in Meritage Homes by 265.5% in the third quarter. Larson Financial Group LLC now owns 402 shares of the construction company's stock valued at $29,000 after purchasing an additional 292 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Meritage Homes in the 2nd quarter worth about $33,000. Brown Lisle Cummings Inc. purchased a new stake in Meritage Homes in the 4th quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Meritage Homes by 194.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company's stock valued at $47,000 after acquiring an additional 462 shares during the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MTH has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Meritage Homes in a report on Monday, December 29th. Citigroup began coverage on Meritage Homes in a report on Wednesday, January 7th. They set an "outperform" rating for the company. UBS Group set a $95.00 target price on shares of Meritage Homes in a research note on Friday, January 30th. Citizens Jmp initiated coverage on shares of Meritage Homes in a research note on Wednesday, January 7th. They set a "market outperform" rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Meritage Homes from $60.00 to $69.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.63.
Check Out Our Latest Stock Report on MTH
Meritage Homes Company Profile
(
Get Free Report)
Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.
The company's core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.
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