Invesco Ltd. Sells 120,931 Shares of M/I Homes, Inc. $MHO

Key Points

• Invesco Ltd. has reduced its holdings in M/I Homes, Inc. by 41.6%, selling 120,931 shares and retaining 169,975 shares valued at approximately $19.4 million.
• Various institutional investors, including Fifth Third Bancorp and Covestor Ltd, have significantly increased their positions in M/I Homes, reflecting a growing interest in the company among large investors.
• M/I Homes recently reported quarterly earnings with an EPS of $4.42, slightly missing expectations, while revenue increased 4.8% year-over-year to $1.16 billion.

Invesco Ltd. reduced its holdings in M/I Homes, Inc. (NYSE:MHO - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,975 shares of the construction company's stock after selling 120,931 shares during the quarter. Invesco Ltd. owned about 0.63% of M/I Homes worth $19,408,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of M/I Homes by 38.3% in the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after acquiring an additional 105 shares in the last quarter. Covestor Ltd raised its position in shares of M/I Homes by 134.8% in the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after acquiring an additional 376 shares in the last quarter. GAMMA Investing LLC raised its position in shares of M/I Homes by 57.6% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after acquiring an additional 336 shares in the last quarter. National Bank of Canada FI raised its position in shares of M/I Homes by 36.1% in the 1st quarter. National Bank of Canada FI now owns 1,164 shares of the construction company's stock worth $133,000 after acquiring an additional 309 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of M/I Homes in the 4th quarter worth approximately $162,000. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MHO has been the subject of several research reports. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Raymond James Financial decreased their target price on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Zacks Research raised M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $162.50.

M/I Homes Stock Performance

Shares of MHO opened at $138.72 on Friday. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. The business's 50 day moving average price is $121.11 and its 200-day moving average price is $115.39. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $176.18. The stock has a market cap of $3.71 billion, a P/E ratio of 7.62 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 EPS for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes's quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share 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.

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