12,291 Shares in M/I Homes, Inc. $MHO Bought by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in shares of M/I Homes, Inc. (NYSE:MHO) during the second quarter, Holdings Channel reports. The fund bought 12,291 shares of the construction company’s stock, valued at approximately $1,976,000.

Several other hedge funds have also modified their holdings of MHO. Verity Asset Management Inc. acquired a new stake in M/I Homes during the 4th quarter worth about $1,074,000. Militia Capital Management LLC acquired a new position in shares of M/I Homes in the first quarter worth about $2,816,000. First Eagle Investment Management LLC boosted its holdings in shares of M/I Homes by 110.1% in the fourth quarter. First Eagle Investment Management LLC now owns 60,100 shares of the construction company’s stock worth $7,690,000 after buying an additional 31,495 shares during the period. California State Teachers Retirement System increased its position in shares of M/I Homes by 28.3% in the first quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company’s stock worth $3,931,000 after acquiring an additional 7,086 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of M/I Homes by 5,254.6% in the first quarter. Fifth Third Bancorp now owns 10,495 shares of the construction company’s stock worth $1,285,000 after acquiring an additional 10,299 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MHO has been the topic of a number of recent analyst reports. Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. 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. Zelman & Associates downgraded shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, New Street Research set a $172.00 target price on M/I Homes in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, M/I Homes currently has an average rating of “Moderate Buy” and an average price target of $164.25.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 10,000 shares of M/I Homes stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at $4,677,275.04. This trade represents a 24.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by insiders.

M/I Homes Price Performance

Shares of MHO opened at $149.96 on Friday. The business’s 50-day moving average is $150.53 and its 200-day moving average is $138.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 12.62 and a beta of 1.60. M/I Homes, Inc. has a fifty-two week low of $116.78 and a fifty-two week high of $163.66.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted $4.42 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that M/I Homes, Inc. will post 12.62 EPS 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.