Meritage Portfolio Management Has $387,000 Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

Meritage Portfolio Management grew its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,998 shares of the construction company’s stock after purchasing an additional 373 shares during the period. Meritage Portfolio Management’s holdings in M.D.C. were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Atria Wealth Solutions Inc. acquired a new position in shares of M.D.C. during the 4th quarter worth approximately $451,000. GAMMA Investing LLC acquired a new position in shares of M.D.C. during the 4th quarter worth approximately $34,000. New York State Common Retirement Fund grew its position in shares of M.D.C. by 4.6% during the 4th quarter. New York State Common Retirement Fund now owns 25,177 shares of the construction company’s stock worth $1,391,000 after purchasing an additional 1,109 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of M.D.C. during the 4th quarter worth approximately $182,000. Finally, Xponance Inc. acquired a new position in shares of M.D.C. during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analyst Ratings Changes

MDC has been the topic of several analyst reports. StockNews.com initiated coverage on shares of M.D.C. in a research report on Friday, April 19th. They set a “hold” rating on the stock. Evercore ISI lowered shares of M.D.C. from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $57.00 to $63.00 in a research report on Wednesday, January 31st. Finally, Raymond James reiterated a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.13.

M.D.C. Stock Performance

M.D.C. stock remained flat at $62.98 during mid-day trading on Friday. M.D.C. Holdings, Inc. has a 12 month low of $36.47 and a 12 month high of $63.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.92 and a current ratio of 9.76. The company has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The business’s fifty day simple moving average is $62.78 and its 200 day simple moving average is $54.47.

M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. On average, equities research analysts expect that M.D.C. Holdings, Inc. will post 5.7 EPS for the current fiscal year.

Insider Buying and Selling at M.D.C.

In other news, Director David E. Blackford sold 6,200 shares of M.D.C. stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total transaction of $388,678.00. Following the transaction, the director now owns 13,534 shares in the company, valued at $848,446.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 23.30% of the company’s stock.

About M.D.C.

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.