PNC Financial Services Group Inc. Has $156,000 Stake in M/I Homes, Inc. $MHO

Key Points

• PNC Financial Services Group Inc. reduced its stake in M/I Homes by 64.2%, holding 1,369 shares worth $156,000 as of its latest SEC filing.
• Institutional investors and hedge funds collectively own 95.14% of M/I Homes stock, with several firms significantly increasing their positions in recent quarters.
• Analysts have issued mixed ratings on M/I Homes, with one rating a "sell", one a "hold", and others ranging from "buy" to "strong buy", reflecting varied outlooks on the stock.

PNC Financial Services Group Inc. lowered its stake in M/I Homes, Inc. (NYSE:MHO - Free Report) by 64.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,369 shares of the construction company's stock after selling 2,457 shares during the quarter. PNC Financial Services Group Inc.'s holdings in M/I Homes were worth $156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Trust Corp increased its position in shares of M/I Homes by 8.4% in the fourth quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock valued at $46,134,000 after acquiring an additional 26,820 shares during the last quarter. Royce & Associates LP increased its position in shares of M/I Homes by 14.4% in the first quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock valued at $35,894,000 after acquiring an additional 39,491 shares during the last quarter. Millennium Management LLC increased its position 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 valued at $31,752,000 after acquiring an additional 110,086 shares during the last quarter. Allianz Asset Management GmbH increased its position 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 valued at $26,155,000 after acquiring an additional 100,029 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of M/I Homes by 81.7% in the first quarter. Assenagon Asset Management S.A. now owns 196,921 shares of the construction company's stock valued at $22,484,000 after acquiring an additional 88,545 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MHO. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Zacks Research upgraded M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Raymond James Financial reduced their price target on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Finally, Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.50.

M/I Homes Trading Down 0.5%

Shares of MHO stock opened at $141.70 on Tuesday. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.79 billion, a P/E ratio of 7.78 and a beta of 1.60. The stock has a 50 day simple moving average of $119.32 and a 200 day simple moving average of $114.90. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $176.18.

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

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.

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