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. decreased its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 41.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,975 shares of the construction company's stock after selling 120,931 shares during the period. Invesco Ltd. owned 0.63% of M/I Homes worth $19,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Xponance Inc. boosted its position in M/I Homes by 5.0% during the first quarter. Xponance Inc. now owns 2,019 shares of the construction company's stock valued at $231,000 after purchasing an additional 97 shares during the last quarter. Fifth Third Bancorp boosted its position in M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after purchasing an additional 105 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in M/I Homes by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 6,443 shares of the construction company's stock valued at $736,000 after purchasing an additional 114 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in M/I Homes by 4.8% during the first quarter. Journey Strategic Wealth LLC now owns 2,705 shares of the construction company's stock valued at $309,000 after purchasing an additional 125 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in M/I Homes by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,124 shares of the construction company's stock valued at $282,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Up 0.5%

Shares of NYSE:MHO traded up $0.72 on Wednesday, reaching $146.06. The company had a trading volume of 203,607 shares, compared to its average volume of 307,688. M/I Homes, Inc. has a twelve month low of $100.22 and a twelve month high of $176.18. The stock has a 50-day moving average price of $124.33 and a 200 day moving average price of $116.12. The stock has a market capitalization of $3.91 billion, a P/E ratio of 8.02 and a beta of 1.60. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share 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 analyst estimates of $1.12 billion. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MHO. Zacks Research raised M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Raymond James Financial reduced their price objective 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. Finally, Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M/I Homes currently has a consensus rating of "Buy" and an average target price of $162.50.

M/I Homes Profile

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.