M/I Homes, Inc. $MHO Shares Sold by PNC Financial Services Group Inc.

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. lessened its position in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 64.2% during the 1st quarter, according to the company in its most recent 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MHO. Fifth Third Bancorp lifted its holdings in shares of M/I Homes by 38.3% during the first 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. GAMMA Investing LLC raised its position in M/I Homes by 57.6% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after buying an additional 336 shares during the last quarter. CWM LLC lifted its stake in M/I Homes by 75.2% during the 1st quarter. CWM LLC now owns 1,284 shares of the construction company's stock valued at $147,000 after acquiring an additional 551 shares during the period. State of Wyoming acquired a new stake in M/I Homes during the 4th quarter valued at approximately $162,000. Finally, PharVision Advisers LLC purchased a new stake in shares of M/I Homes in the 4th quarter valued at $209,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on MHO shares. Zacks Research raised shares of M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Wall Street Zen downgraded M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Zelman & Associates upgraded M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Finally, Raymond James Financial lowered 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. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $162.50.

M/I Homes Price Performance

Shares of M/I Homes stock traded up $8.1930 on Friday, hitting $146.9630. The company's stock had a trading volume of 372,000 shares, compared to its average volume of 304,852. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.07 and a beta of 1.60. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year 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 firm has a fifty day moving average price of $121.90 and a 200-day moving average price of $115.53.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The company's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

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.