Massachusetts Financial Services Co. MA Lowers Holdings in M/I Homes, Inc. $MHO

Massachusetts Financial Services Co. MA lowered its holdings in M/I Homes, Inc. (NYSE:MHO) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,020 shares of the construction company’s stock after selling 9,440 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.01% of M/I Homes worth $38,279,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of M/I Homes during the 3rd quarter worth about $28,000. Private Trust Co. NA purchased a new position in M/I Homes during the third quarter worth about $38,000. EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of M/I Homes by 58.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after acquiring an additional 170 shares during the period. Finally, WealthCollab LLC lifted its holdings in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MHO shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Citigroup started coverage on M/I Homes in a research report on Wednesday, January 7th. They set an “outperform” rating for the company. Citizens Jmp began coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective on the stock. Raymond James Financial raised their target price on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Finally, Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.00.

M/I Homes Trading Up 3.0%

NYSE MHO opened at $138.32 on Thursday. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92. The firm has a 50 day moving average of $132.24 and a two-hundred day moving average of $134.24. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.62 billion, a PE ratio of 8.12 and a beta of 1.75.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its board has approved a share repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.