Nuveen LLC Invests $11.83 Million in M/I Homes, Inc. $MHO

Nuveen LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO) during the first quarter, according to its most recent filing with the SEC. The firm bought 103,601 shares of the construction company’s stock, valued at approximately $11,829,000. Nuveen LLC owned about 0.39% of M/I Homes at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its holdings in shares of M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock valued at $146,489,000 after buying an additional 118,778 shares during the period. Entropy Technologies LP acquired a new stake in shares of M/I Homes in the 1st quarter valued at approximately $693,000. Covestor Ltd raised its holdings in M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company’s stock valued at $75,000 after buying an additional 376 shares during the last quarter. National Bank of Canada FI raised its holdings in M/I Homes by 36.1% during the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company’s stock worth $133,000 after purchasing an additional 309 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of M/I Homes by 34.7% during the 1st quarter. Citigroup Inc. now owns 83,046 shares of the construction company’s stock worth $9,482,000 after buying an additional 21,379 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on MHO shares. Zacks Research upgraded M/I Homes to a “strong sell” rating in a report on Tuesday, August 12th. Raymond James Financial reduced their price objective on M/I Homes from $168.00 to $140.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen cut M/I Homes from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $162.50.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $146.9630 on Friday. M/I Homes, Inc. has a 12 month low of $100.22 and a 12 month high of $176.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78. The stock has a market capitalization of $3.94 billion, a P/E ratio of 8.07 and a beta of 1.60. The business has a 50 day simple moving average of $121.90 and a two-hundred day simple moving average of $115.57.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. M/I Homes’s revenue for the quarter 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.

M/I Homes 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.