Public Sector Pension Investment Board Purchases 30,115 Shares of M/I Homes, Inc. (NYSE:MHO)

Key Points

• Public Sector Pension Investment Board increased its stake in M/I Homes by 44.4%, owning 97,904 shares valued at $11.18 million as of the latest SEC filing.
• M/I Homes' quarterly earnings reported an EPS of $4.42, which missed analysts' expectations by $0.01, though revenue increased by 4.8% compared to the same quarter last year.
• Recent analyst ratings for M/I Homes include upgrades to "outperform" and "strong-buy," with an average price target of $162.50 following adjustments by various investment firms.

Public Sector Pension Investment Board boosted its position in M/I Homes, Inc. (NYSE:MHO - Free Report) by 44.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,904 shares of the construction company's stock after purchasing an additional 30,115 shares during the period. Public Sector Pension Investment Board owned about 0.37% of M/I Homes worth $11,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. raised its stake in shares of M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after buying an additional 118,778 shares during the period. Millennium Management LLC raised its stake in shares of M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after buying an additional 110,086 shares during the period. GAMMA Investing LLC raised its stake in shares of M/I Homes by 17,898.5% in the first quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock worth $11,981,000 after buying an additional 104,348 shares during the period. Nuveen LLC bought a new position in shares of M/I Homes in the first quarter worth about $11,829,000. Finally, Allianz Asset Management GmbH raised its stake in shares of M/I Homes by 77.5% in the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock worth $26,155,000 after buying an additional 100,029 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Price Performance

MHO traded down $0.25 on Friday, hitting $142.58. 243,313 shares of the company's stock traded hands, compared to its average volume of 326,354. The company's 50 day simple moving average is $118.66 and its 200-day simple moving average is $114.90. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 7.83 and a beta of 1.60. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday. Zacks Research raised M/I Homes to a "strong sell" rating in a research note 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 on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, M/I Homes presently has a consensus rating of "Moderate Buy" and an average target price of $162.50.

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.