Covestor Ltd Acquires 717 Shares of M/I Homes, Inc. (NYSE:MHO)

Covestor Ltd increased its holdings in shares of M/I Homes, Inc. (NYSE:MHO) by 689.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 821 shares of the construction company’s stock after acquiring an additional 717 shares during the quarter. Covestor Ltd’s holdings in M/I Homes were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in M/I Homes by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company’s stock worth $285,719,000 after acquiring an additional 39,542 shares during the period. Westfield Capital Management Co. LP lifted its holdings in M/I Homes by 3.0% during the first quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock worth $166,272,000 after acquiring an additional 35,558 shares during the period. Basswood Capital Management L.L.C. lifted its holdings in M/I Homes by 6.8% during the fourth quarter. Basswood Capital Management L.L.C. now owns 259,349 shares of the construction company’s stock worth $35,723,000 after acquiring an additional 16,608 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in M/I Homes during the fourth quarter worth $25,385,000. Finally, Comerica Bank increased its position in M/I Homes by 57.0% in the fourth quarter. Comerica Bank now owns 178,447 shares of the construction company’s stock worth $24,579,000 after buying an additional 64,766 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert H. Schottenstein sold 19,200 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $122.00, for a total value of $2,342,400.00. Following the completion of the sale, the chief executive officer now owns 122,951 shares of the company’s stock, valued at approximately $15,000,022. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Susan E. Krohne sold 9,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $122.00, for a total value of $1,098,000.00. Following the completion of the sale, the insider now owns 3,609 shares of the company’s stock, valued at approximately $440,298. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert H. Schottenstein sold 19,200 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $122.00, for a total value of $2,342,400.00. Following the transaction, the chief executive officer now owns 122,951 shares in the company, valued at approximately $15,000,022. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MHO has been the subject of a number of recent research reports. StockNews.com raised M/I Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th. Wedbush reissued a “neutral” rating and set a $130.00 price objective (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday, April 24th.

M/I Homes Price Performance

MHO stock traded up $3.42 during mid-day trading on Tuesday, hitting $155.26. 72,108 shares of the stock were exchanged, compared to its average volume of 256,766. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.91 and a quick ratio of 1.99. The business has a fifty day moving average price of $126.51 and a 200 day moving average price of $125.28. M/I Homes, Inc. has a 12 month low of $74.79 and a 12 month high of $160.49. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 8.87 and a beta of 2.23.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, April 24th. The construction company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. On average, sell-side analysts anticipate that M/I Homes, Inc. will post 18.18 EPS for the current 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.