Principal Financial Group Inc. Trims Stock Holdings in M/I Homes, Inc. $MHO

Principal Financial Group Inc. lowered its position in shares of M/I Homes, Inc. (NYSE:MHO) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,357 shares of the construction company’s stock after selling 5,686 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of M/I Homes worth $17,309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MHO. Hilton Head Capital Partners LLC bought a new position in shares of M/I Homes in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in M/I Homes in the fourth quarter worth about $49,000. CIBC Private Wealth Group LLC increased its stake in shares of M/I Homes by 53.7% during the third quarter. CIBC Private Wealth Group LLC now owns 475 shares of the construction company’s stock valued at $69,000 after purchasing an additional 166 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of M/I Homes by 1,090.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after purchasing an additional 458 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Price Performance

NYSE MHO opened at $148.56 on Thursday. The company has a 50-day moving average price of $143.08 and a 200-day moving average price of $136.23. M/I Homes, Inc. has a 52 week low of $116.78 and a 52 week high of $163.66. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.80 billion, a P/E ratio of 11.19 and a beta of 1.60.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.09). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The business had revenue of $920.71 million for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $3.98 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that M/I Homes, Inc. will post 12.6 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on MHO. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Seaport Research Partners reissued a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Finally, Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.