Charles Schwab Investment Management Inc. Reduces Holdings in M/I Homes, Inc. $MHO

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in M/I Homes by 7.3%, owning 428,280 shares valued at approximately $48.9 million.
• M/I Homes posted an earnings report with an EPS of $4.42, missing estimates slightly, while revenue reached $1.16 billion, surpassing projections.
• Investment analysts have mixed ratings on M/I Homes, with ratings ranging from "strong sell" to "strong buy," along with an average price target of $162.50.

Charles Schwab Investment Management Inc. lessened its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,280 shares of the construction company's stock after selling 33,835 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.60% of M/I Homes worth $48,901,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of M/I Homes by 2.6% in the first quarter. Principal Financial Group Inc. now owns 144,678 shares of the construction company's stock valued at $16,519,000 after purchasing an additional 3,698 shares in the last quarter. GAMMA Investing LLC increased its position in shares of M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after acquiring an additional 336 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in M/I Homes by 17.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,205 shares of the construction company's stock valued at $594,000 after purchasing an additional 763 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of M/I Homes by 44.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707 shares of the construction company's stock valued at $880,000 after purchasing an additional 2,363 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after purchasing an additional 105 shares during the period. Institutional investors own 95.14% of the company's stock.

M/I Homes Price Performance

M/I Homes stock traded down $1.21 during midday trading on Thursday, hitting $138.72. 207,108 shares of the company's stock were exchanged, compared to its average volume of 312,747. The stock has a 50-day moving average price of $121.11 and a two-hundred day moving average price of $115.39. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $176.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.78 and a current ratio of 7.21. The company 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 posted 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 analysts' expectations of $1.12 billion. The company's quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MHO. Wall Street Zen downgraded shares of M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a research note on Tuesday, August 12th. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial dropped their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. 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 company's stock. According to MarketBeat.com, M/I Homes presently has a consensus rating of "Buy" and an average target price of $162.50.

M/I Homes Company 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.