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In a recent transaction, Joseph Keough, a director at Meritage Homes Corp (NYSE:MTH), acquired 5,000 shares of the company’s common stock. The purchase, conducted on March 13, 2025, was made at a price of $69.28 per share, amounting to a total investment of approximately $346,400. The timing appears strategic, as the stock is currently trading near its 52-week low of $68.92, with a P/E ratio of just 6.5x. Following this transaction, Keough holds a total of 37,700 shares directly, which includes other holdings such as previously vested restricted stock units.
This acquisition demonstrates Keough’s ongoing confidence in Meritage Homes, a prominent player in the real estate and construction sector. The transaction was filed with the SEC on March 14, 2025.
In other recent news, Meritage Homes Corporation has reported its fourth-quarter 2024 financial results, exceeding earnings expectations with an earnings per share (EPS) of $4.72, compared to the forecast of $2.28. The company’s revenue for the quarter reached $1.6 billion, slightly surpassing the expected $1.57 billion. Despite this strong financial performance, Meritage’s stock experienced a decline during regular and aftermarket trading. Additionally, Meritage Homes announced adjustments to its executive compensation structure, with increased base salaries and equity incentives for several top executives, excluding Executive Chairman Steven J. Hilton, whose compensation remains unchanged.
The homebuilding sector, including Meritage Homes, faced challenges due to the imposition of a 25% tariff on Canadian lumber imports, raising concerns about increased costs and potential impacts on home prices. This development has led to investor unease, reflected in the stock movements of several homebuilders. In terms of future guidance, Meritage Homes aims for home closing revenue between $6.6 billion and $6.9 billion in 2025, with a target of 16,250 to 16,750 closing units. The company also plans to achieve long-term gross margins of 22.5% to 23.5% and reach 20,000 units by 2027.
Analyst firms have been closely monitoring Meritage Homes, with discussions focusing on the company’s strategy to maintain sales pace and manage construction cycle times. Despite the current challenges, Meritage Homes remains confident in its long-term prospects, supported by strategic expansions into new markets and a focus on affordable, move-in ready homes.
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