Principal Financial Group Inc. Trims Holdings in M/I Homes, Inc. $MHO

Principal Financial Group Inc. decreased its position in shares of M/I Homes, Inc. (NYSE:MHO) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,357 shares of the construction company’s stock after selling 5,686 shares during the period. Principal Financial Group Inc.’s holdings in M/I Homes were worth $17,309,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MHO. Royal Bank of Canada raised its position in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock valued at $3,400,000 after purchasing an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in M/I Homes by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after buying an additional 703 shares during the period. United Services Automobile Association purchased a new stake in M/I Homes in the 1st quarter worth $205,000. Strs Ohio purchased a new stake in M/I Homes in the 1st quarter worth $114,000. Finally, EverSource Wealth Advisors LLC raised its holdings in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MHO. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $161.67.

M/I Homes Stock Up 1.1%

MHO opened at $148.56 on Thursday. The company has a market capitalization of $3.80 billion, a PE ratio of 11.19 and a beta of 1.60. The firm has a 50-day simple moving average of $143.08 and a two-hundred day simple moving average of $136.23. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, April 22nd. The construction company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.09). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The firm had revenue of $920.71 million during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. M/I Homes’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.