Public Sector Pension Investment Board Boosts Stock Position in M/I Homes, Inc. (NYSE:MHO)

Public Sector Pension Investment Board raised its position in M/I Homes, Inc. (NYSE:MHO) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,016 shares of the construction company’s stock after purchasing an additional 3,931 shares during the period. Public Sector Pension Investment Board owned about 0.22% of M/I Homes worth $7,452,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of M/I Homes by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after buying an additional 95,437 shares during the period. Vision Capital Corp acquired a new position in M/I Homes in the fourth quarter valued at $11,078,000. Comerica Bank lifted its position in M/I Homes by 57.0% during 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 period. Renaissance Technologies LLC boosted its stake in M/I Homes by 187.0% in the 2nd quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after buying an additional 51,600 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in M/I Homes by 7.7% in the 2nd quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock valued at $85,984,000 after buying an additional 50,330 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now owns 18,545 shares in the company, valued at approximately $3,082,920.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert H. Schottenstein sold 2,089 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the sale, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MHO. StockNews.com cut shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 19th. Raymond James lifted their price target on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd.

M/I Homes Stock Performance

NYSE MHO opened at $168.80 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. M/I Homes, Inc. has a 1-year low of $74.79 and a 1-year high of $173.86. The firm has a market capitalization of $4.68 billion, a P/E ratio of 9.71 and a beta of 2.23. The business’s 50-day simple moving average is $156.30 and its 200-day simple moving average is $135.10.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted $4.12 earnings per share. Equities analysts predict that M/I Homes, Inc. will post 19.76 EPS for the current year.

About M/I Homes

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.