Edgestream Partners L.P. Purchases New Position in M/I Homes, Inc. $MHO

Key Points

• Edgestream Partners L.P. acquired 72,095 shares of M/I Homes during the first quarter, worth approximately $8.83 million and representing about 0.28% of the company.
• Institutional ownership remains high at 95.14%, with several major investors increasing their positions, including Millennium Management and Invesco.
• M/I Homes slightly exceeded quarterly earnings and revenue expectations, reporting $3.14 in EPS and $1.06 billion in revenue, while analysts maintain a “Moderate Buy” consensus with a $161.67 price target.

Edgestream Partners L.P. acquired a new stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 72,095 shares of the construction company's stock, valued at approximately $8,828,000. Edgestream Partners L.P. owned approximately 0.28% of M/I Homes as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MHO. Donald Smith & CO. Inc. grew its position in M/I Homes by 5.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock worth $187,234,000 after acquiring an additional 82,090 shares in the last quarter. State Street Corp raised its holdings in shares of M/I Homes by 2.2% during the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company's stock valued at $171,093,000 after purchasing an additional 28,187 shares in the last quarter. Millennium Management LLC lifted its stake in shares of M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock valued at $55,592,000 after purchasing an additional 225,120 shares during the last quarter. Royce & Associates LP lifted its stake in shares of M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company's stock valued at $41,789,000 after purchasing an additional 16,445 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company's stock worth $43,464,000 after purchasing an additional 161,881 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $153.62 on Thursday. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $145.67 and a 200-day simple moving average of $136.99. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 11.57 and a beta of 1.60. M/I Homes, Inc. has a 1-year low of $116.78 and a 1-year high of $163.66.

M/I Homes (NYSE:MHO - Get Free Report) last posted its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. M/I Homes's revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $4.42 EPS. On average, sell-side analysts expect that M/I Homes, Inc. will post 12.6 earnings per share for the current year.

Wall Street Analyst Weigh In

MHO has been the topic of several analyst reports. Zelman & Associates downgraded shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Zacks Research raised M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Seaport Research Partners reiterated a "neutral" rating on shares of M/I Homes in a research note on Tuesday, April 7th. Freedom Capital raised M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of M/I Homes in a research note on Friday, May 15th. Two research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $161.67.

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.

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