NewEdge Advisors LLC Increases Stock Holdings in M/I Homes, Inc. (NYSE:MHO)

NewEdge Advisors LLC grew its stake in M/I Homes, Inc. (NYSE:MHO) by 1,173.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,196 shares of the construction company’s stock after purchasing an additional 2,945 shares during the quarter. NewEdge Advisors LLC’s holdings in M/I Homes were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MHO. Barclays PLC increased its stake in M/I Homes by 45.7% in the 3rd quarter. Barclays PLC now owns 126,577 shares of the construction company’s stock valued at $21,690,000 after buying an additional 39,711 shares during the period. Invst LLC lifted its stake in shares of M/I Homes by 20.7% in the 3rd quarter. Invst LLC now owns 3,395 shares of the construction company’s stock worth $582,000 after acquiring an additional 582 shares during the period. World Investment Advisors LLC purchased a new stake in shares of M/I Homes in the third quarter valued at about $4,698,000. Cim Investment Management Inc. acquired a new position in shares of M/I Homes during the third quarter worth about $246,000. Finally, JPMorgan Chase & Co. raised its holdings in M/I Homes by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 267,684 shares of the construction company’s stock worth $45,870,000 after purchasing an additional 14,321 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MHO shares. Raymond James reiterated a “strong-buy” rating and set a $168.00 target price (down previously from $210.00) on shares of M/I Homes in a research report on Thursday, January 30th. StockNews.com downgraded M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Seaport Res Ptn raised M/I Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th.

M/I Homes Stock Performance

NYSE MHO opened at $105.09 on Tuesday. M/I Homes, Inc. has a 1-year low of $100.22 and a 1-year high of $176.18. The company has a market capitalization of $2.85 billion, a P/E ratio of 5.33 and a beta of 1.99. The business has a 50 day moving average price of $113.24 and a 200 day moving average price of $133.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.18). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. The firm had revenue of $976.09 million during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned $4.78 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. Sell-side analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

About M/I Homes

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.