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

Key Points

• NewEdge Wealth acquired 12,291 shares of M/I Homes during the second quarter, valued at approximately $1.98 million. Institutional investors collectively own 95.14% of the homebuilder’s stock.
• Analyst sentiment remains positive overall, with M/I Homes holding a consensus “Moderate Buy” rating and an average price target of $164.25, although some firms recently downgraded the stock to neutral or hold.
• M/I Homes reported quarterly EPS of $3.14, narrowly beating estimates, while revenue reached $1.06 billion. However, revenue declined 6% year over year, and CFO Phillip G. Creek sold 10,000 shares at an average price of $151.28.

NewEdge Wealth LLC bought a new stake in M/I Homes, Inc. (NYSE:MHO - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,291 shares of the construction company's stock, valued at approximately $1,976,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MHO. Intech Investment Management LLC grew its holdings in M/I Homes by 0.5% in the 4th quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company's stock worth $1,904,000 after buying an additional 72 shares in the last quarter. Corient Private Wealth LLC raised its stake in M/I Homes by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company's stock valued at $498,000 after acquiring an additional 76 shares in the last quarter. WealthCollab LLC raised its stake in M/I Homes by 16.5% during the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company's stock valued at $69,000 after acquiring an additional 87 shares in the last quarter. Private Advisor Group LLC boosted its position in M/I Homes by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company's stock worth $437,000 after acquiring an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in M/I Homes by 33.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company's stock worth $48,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

MHO has been the subject of a number of recent analyst reports. Zelman & Associates lowered shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Freedom Capital upgraded shares of M/I Homes to a "strong-buy" rating in a research report on Wednesday, June 24th. Zacks Research upgraded shares of M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a research note on Wednesday, August 12th. Finally, New Street Research set a $172.00 target price on M/I Homes in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.25.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at $4,677,275.04. The trade was a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is owned by insiders.

M/I Homes Price Performance

NYSE:MHO opened at $149.96 on Friday. The business's 50-day moving average price is $150.53 and its 200 day moving average price is $138.63. The firm has a market cap of $3.79 billion, a P/E ratio of 12.62 and a beta of 1.60. M/I Homes, Inc. has a 52-week low of $116.78 and a 52-week high of $163.66. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company earned $4.42 EPS. M/I Homes's revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that M/I Homes, Inc. will post 12.62 earnings per share for the current fiscal year.

M/I Homes Profile

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.

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