Meritage Homes Corp. (NYSE:MTH)’s share price was down 5.7% during trading on Thursday . The stock traded as low as $37.67 and last traded at $38.23, with a volume of 507,949 shares traded. The stock had previously closed at $40.55.

Several equities analysts recently commented on MTH shares. Zacks Investment Research lowered shares of Meritage Homes Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Credit Suisse Group AG reiterated a “hold” rating on shares of Meritage Homes Corp. in a research note on Tuesday, June 28th. Sterne Agee CRT downgraded shares of Meritage Homes Corp. from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Wednesday, April 13th. They noted that the move was a valuation call. Zelman & Associates downgraded shares of Meritage Homes Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, TheStreet upgraded shares of Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.33.

The stock’s 50-day moving average price is $38.20 and its 200 day moving average price is $34.93. The company has a market capitalization of $1.50 billion and a PE ratio of 11.76.

Meritage Homes Corp. (NYSE:MTH) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. During the same quarter in the previous year, the business posted $0.70 EPS. The company earned $797.90 million during the quarter, compared to analyst estimates of $747.14 million. The company’s revenue was up 33.5% on a year-over-year basis. Equities research analysts forecast that Meritage Homes Corp. will post $3.61 earnings per share for the current fiscal year.

In other news, Director Gerald W. Haddock sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $38.11, for a total value of $285,825.00. Following the sale, the director now owns 43,000 shares in the company, valued at $1,638,730. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Gary Sarver sold 4,381 shares of Meritage Homes Corp. stock in a transaction on Monday, May 16th. The stock was sold at an average price of $33.92, for a total transaction of $148,603.52. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $508,800. The disclosure for this sale can be found here.

Other large investors have bought and sold shares of the company. Nationwide Fund Advisors increased its stake in Meritage Homes Corp. by 7.9% in the fourth quarter. Nationwide Fund Advisors now owns 34,120 shares of the company’s stock worth $1,160,000 after buying an additional 2,506 shares in the last quarter. Rhumbline Advisers increased its stake in Meritage Homes Corp. by 4.0% in the fourth quarter. Rhumbline Advisers now owns 67,600 shares of the company’s stock worth $2,298,000 after buying an additional 2,615 shares in the last quarter. Dean Investment Associates LLC increased its stake in Meritage Homes Corp. by 16.0% in the fourth quarter. Dean Investment Associates LLC now owns 71,370 shares of the company’s stock worth $2,426,000 after buying an additional 9,845 shares in the last quarter. California State Teachers Retirement System increased its stake in Meritage Homes Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 73,481 shares of the company’s stock worth $2,498,000 after buying an additional 1,160 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Meritage Homes Corp. by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 320,007 shares of the company’s stock worth $10,877,000 after buying an additional 1,800 shares in the last quarter.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.

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