Raymond James Financial Inc. Grows Position in M/I Homes, Inc. $MHO

Key Points

• Raymond James Financial Inc. has increased its stake in M/I Homes, Inc. by 26.0%, owning over 101,000 shares valued at approximately $11.5 million following the first quarter.
• A range of institutional investors, including Donald Smith & CO. and Millennium Management LLC, have also significantly increased their holdings in M/I Homes, contributing to a total institutional ownership of 95.14% in the company.
• M/I Homes reported quarterly earnings of $4.42 per share, slightly below analyst expectations, but its revenue of $1.16 billion exceeded estimates and showed a 4.8% year-over-year increase.

Raymond James Financial Inc. boosted its holdings in shares of M/I Homes, Inc. (NYSE:MHO - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,133 shares of the construction company's stock after acquiring an additional 20,862 shares during the period. Raymond James Financial Inc. owned 0.38% of M/I Homes worth $11,547,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of M/I Homes by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 144,678 shares of the construction company's stock worth $16,519,000 after purchasing an additional 3,698 shares during the last quarter. GAMMA Investing LLC lifted 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 lifted 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 boosted its stake 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 during the last quarter. Finally, Fifth Third Bancorp grew its holdings in M/I Homes by 38.3% in the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after buying an additional 105 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Trading Up 3.7%

MHO stock traded up $5.45 during mid-day trading on Thursday, hitting $153.75. 86,901 shares of the company were exchanged, compared to its average volume of 281,780. M/I Homes, Inc. has a 12-month low of $100.22 and a 12-month high of $176.18. The firm has a market capitalization of $4.12 billion, a P/E ratio of 8.44 and a beta of 1.66. The business has a fifty day simple moving average of $128.17 and a 200-day simple moving average of $117.12. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

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

Wall Street Analysts Forecast Growth

MHO has been the topic of several analyst reports. Zacks Research upgraded M/I Homes to a "strong sell" rating in a report on Tuesday, August 12th. Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, M/I Homes presently has an average rating of "Buy" and an average price target of $162.50.

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.