Junto Capital Management LP Makes New $35.87 Million Investment in M/I Homes, Inc. $MHO

Junto Capital Management LP acquired a new position in shares of M/I Homes, Inc. (NYSE:MHO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 248,348 shares of the construction company’s stock, valued at approximately $35,871,000. Junto Capital Management LP owned 0.95% of M/I Homes at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in M/I Homes by 9.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after acquiring an additional 125,423 shares during the period. American Century Companies Inc. increased its holdings in shares of M/I Homes by 10.9% in the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock valued at $135,282,000 after purchasing an additional 91,732 shares during the period. Franklin Resources Inc. raised its stake in shares of M/I Homes by 0.4% in the second quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock worth $64,242,000 after purchasing an additional 2,021 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of M/I Homes by 116.4% during the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after purchasing an additional 161,881 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of M/I Homes by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock worth $38,505,000 after purchasing an additional 55,206 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $128.52 on Monday. The company’s fifty day moving average price is $137.92 and its 200 day moving average price is $137.10. M/I Homes, Inc. has a 1 year low of $100.22 and a 1 year high of $158.92. The company has a market capitalization of $3.31 billion, a PE ratio of 8.74 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 earnings per share. On average, research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Wall Street Analyst Weigh In

MHO has been the topic of several research reports. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Citizens Jmp initiated coverage on shares of 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Oppenheimer set a $165.00 target price on shares of M/I Homes in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.67.

Insider Transactions at M/I Homes

In other news, insider Susan E. Krohne sold 491 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider directly owned 8,771 shares in the company, valued at $1,287,582.80. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Phillip G. Creek sold 8,616 shares of M/I Homes stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the transaction, the chief financial officer owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. This represents a 15.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,213 shares of company stock valued at $7,115,268 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

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.