Nvest Financial LLC Boosts Stake in M/I Homes, Inc. (NYSE:MHO)

Nvest Financial LLC raised its holdings in M/I Homes, Inc. (NYSE:MHO) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,822 shares of the construction company’s stock after acquiring an additional 132 shares during the period. Nvest Financial LLC’s holdings in M/I Homes were worth $242,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Xponance Inc. raised its stake in M/I Homes by 4.9% in the second quarter. Xponance Inc. now owns 1,718 shares of the construction company’s stock valued at $210,000 after purchasing an additional 80 shares in the last quarter. AQR Capital Management LLC raised its position in shares of M/I Homes by 0.9% during the 2nd quarter. AQR Capital Management LLC now owns 72,968 shares of the construction company’s stock valued at $8,912,000 after buying an additional 651 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of M/I Homes by 19.6% during the 2nd quarter. Millennium Management LLC now owns 46,942 shares of the construction company’s stock worth $5,733,000 after acquiring an additional 7,691 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of M/I Homes by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,264 shares of the construction company’s stock worth $1,864,000 after acquiring an additional 205 shares during the last quarter. Finally, Creative Planning grew its position in M/I Homes by 42.7% in the second quarter. Creative Planning now owns 4,159 shares of the construction company’s stock worth $508,000 after acquiring an additional 1,244 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MHO. Wedbush upgraded M/I Homes from a “neutral” rating to an “outperform” rating and raised their price target for the company from $155.00 to $185.00 in a research report on Monday, November 4th. StockNews.com cut M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $135.46 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81. M/I Homes, Inc. has a 52-week low of $109.92 and a 52-week high of $176.18. The company has a fifty day moving average of $144.84 and a 200-day moving average of $153.56. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.26 and a beta of 2.29.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.16. M/I Homes had a net margin of 12.54% and a return on equity of 19.94%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $4.82 earnings per share. Equities research analysts expect that M/I Homes, Inc. will post 19.83 EPS for the current year.

Insider Activity

In other news, CFO Phillip G. Creek sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $2,967,200. This represents a 51.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

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.