Edgestream Partners L.P. Buys Shares of 72,095 M/I Homes, Inc. $MHO

Edgestream Partners L.P. purchased a new position in M/I Homes, Inc. (NYSE:MHO) during the 1st quarter, HoldingsChannel reports. The firm purchased 72,095 shares of the construction company’s stock, valued at approximately $8,828,000.

A number of other large investors also recently modified their holdings of MHO. Cim LLC boosted its position in shares of M/I Homes by 115.6% in the first quarter. Cim LLC now owns 3,738 shares of the construction company’s stock valued at $458,000 after acquiring an additional 2,004 shares during the period. Amundi increased its position in M/I Homes by 88.4% during the first quarter. Amundi now owns 8,828 shares of the construction company’s stock worth $1,081,000 after acquiring an additional 4,143 shares during the period. EverSource Wealth Advisors LLC raised its stake in M/I Homes by 33.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock valued at $48,000 after purchasing an additional 97 shares during the last quarter. California State Teachers Retirement System boosted its holdings in M/I Homes by 28.3% in the 1st quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company’s stock valued at $3,931,000 after purchasing an additional 7,086 shares during the period. Finally, Readystate Asset Management LP bought a new stake in M/I Homes in the 1st quarter valued at $2,042,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on MHO. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a 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. Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Finally, Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.67.

M/I Homes Stock Up 1.0%

Shares of MHO stock opened at $153.62 on Thursday. M/I Homes, Inc. has a one year low of $116.78 and a one year high of $163.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. The stock has a fifty day moving average price of $145.67 and a 200 day moving average price of $136.99. The stock has a market cap of $3.93 billion, a P/E ratio of 11.57 and a beta of 1.60.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts predict that M/I Homes, Inc. will post 12.6 earnings per share for the current year.

About M/I Homes

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.