M/I Homes, Inc. $MHO Position Cut by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in M/I Homes, Inc. (NYSE:MHO) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,630,691 shares of the construction company’s stock after selling 8,851 shares during the quarter. Vanguard Group Inc. owned approximately 9.82% of M/I Homes worth $300,372,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new stake in shares of M/I Homes during the first quarter valued at about $357,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in M/I Homes by 27.2% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,265 shares of the construction company’s stock worth $259,000 after purchasing an additional 484 shares in the last quarter. XTX Topco Ltd purchased a new position in M/I Homes in the 1st quarter worth about $1,854,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in M/I Homes by 14.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,977 shares of the construction company’s stock valued at $682,000 after acquiring an additional 765 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in M/I Homes during the 1st quarter valued at about $236,000. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Stock Performance

Shares of NYSE:MHO opened at $142.58 on Monday. The business’s fifty day moving average price is $118.66 and its two-hundred day moving average price is $114.79. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $176.18. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 7.83 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing the consensus estimate of $4.43 by ($0.01). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen cut M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Raymond James Financial reduced their target price on M/I Homes from $168.00 to $140.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Finally, Zacks Research upgraded M/I Homes to a “strong sell” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.50.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.