Principal Financial Group Inc. Grows Stake in M/I Homes, Inc. (NYSE:MHO)

Principal Financial Group Inc. lifted its stake in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,678 shares of the construction company's stock after purchasing an additional 3,698 shares during the quarter. Principal Financial Group Inc. owned 0.53% of M/I Homes worth $16,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MHO. GAMMA Investing LLC grew its position in M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after buying an additional 336 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in M/I Homes by 17.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,205 shares of the construction company's stock worth $594,000 after buying an additional 763 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in M/I Homes by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707 shares of the construction company's stock worth $880,000 after buying an additional 2,363 shares in the last quarter. Fifth Third Bancorp grew its position in 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 buying an additional 105 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in M/I Homes by 9.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,403 shares of the construction company's stock worth $319,000 after buying an additional 207 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MHO has been the topic of several recent research reports. Raymond James Financial reduced their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen lowered M/I Homes from a "buy" rating to a "hold" rating in a research report on Friday, April 25th.

M/I Homes Trading Down 4.3%

MHO stock traded down $5.12 during trading on Tuesday, hitting $114.48. 451,047 shares of the company traded hands, compared to its average volume of 288,828. The firm has a market capitalization of $3.07 billion, a PE ratio of 6.05 and a beta of 1.64. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $176.18. The company has a 50-day moving average of $110.54 and a 200-day moving average of $115.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.79 and a current ratio of 7.43.

M/I Homes (NYSE:MHO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.18). The company had revenue of $976.09 million for the quarter, compared to analysts' expectations of $1.12 billion. M/I Homes had a net margin of 12.11% and a return on equity of 18.62%. The company's revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.78 earnings per share. 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.