M/I Homes, Inc. $MHO Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its M/I Homes stake by 32% in the first quarter, selling 13,866 shares and retaining 29,435 shares worth approximately $3.6 million.
• Institutional investors own 95.14% of M/I Homes, while analyst coverage remains mixed; the stock carries a consensus “Moderate Buy” rating and an average price target of $161.67.
• M/I Homes reported quarterly EPS of $3.14, slightly exceeding estimates, and revenue of $1.06 billion; however, revenue declined 6% year over year and EPS fell from $4.42 in the prior-year quarter.

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,435 shares of the construction company's stock after selling 13,866 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of M/I Homes worth $3,604,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MHO. Hilton Head Capital Partners LLC bought a new stake in M/I Homes in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its position in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock worth $32,000 after purchasing an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in M/I Homes in the 4th quarter worth about $49,000. Caitong International Asset Management Co. Ltd increased its stake in shares of M/I Homes by 1,090.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock valued at $64,000 after purchasing an additional 458 shares during the period. Finally, WealthCollab LLC increased its stake in shares of M/I Homes by 16.5% in the second quarter. WealthCollab LLC now owns 614 shares of the construction company's stock valued at $69,000 after purchasing an additional 87 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

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

M/I Homes Price Performance

Shares of NYSE MHO opened at $151.45 on Friday. M/I Homes, Inc. has a twelve month low of $116.78 and a twelve month high of $163.66. The company has a current ratio of 7.19, a quick ratio of 1.95 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $146.11 and a two-hundred day moving average of $137.08. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.75 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the company posted $4.42 EPS. The business's revenue was down 6.0% compared to the same quarter last year. As a group, analysts expect that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

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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