New York State Teachers Retirement System increased its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 4.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 107,339 shares of the construction company’s stock after buying an additional 4,099 shares during the period. New York State Teachers Retirement System owned 0.21% of M.D.C. Holdings worth $3,226,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MDC. Hamlin Capital Management LLC boosted its position in M.D.C. Holdings by 62.0% in the first quarter. Hamlin Capital Management LLC now owns 1,475,761 shares of the construction company’s stock valued at $44,347,000 after buying an additional 564,646 shares during the period. Vanguard Group Inc. boosted its stake in M.D.C. Holdings by 8.1% in the first quarter. Vanguard Group Inc. now owns 3,786,394 shares of the construction company’s stock valued at $113,782,000 after buying an additional 284,872 shares during the last quarter. FMR LLC boosted its stake in M.D.C. Holdings by 4.8% in the first quarter. FMR LLC now owns 5,358,020 shares of the construction company’s stock valued at $161,008,000 after buying an additional 243,185 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in M.D.C. Holdings by 945.7% in the first quarter. Thrivent Financial For Lutherans now owns 232,260 shares of the construction company’s stock valued at $6,979,000 after buying an additional 210,050 shares during the last quarter. Finally, Norges Bank purchased a new stake in M.D.C. Holdings during the fourth quarter valued at approximately $4,689,000. Hedge funds and other institutional investors own 80.20% of the company’s stock.
M.D.C. Holdings, Inc. (NYSE MDC) traded down 0.09% during mid-day trading on Tuesday, reaching $34.00. The company had a trading volume of 400,917 shares. M.D.C. Holdings, Inc. has a 12-month low of $21.25 and a 12-month high of $36.92. The stock has a 50-day moving average of $35.37 and a 200 day moving average of $31.80. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 14.41 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last released its earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. During the same period in the previous year, the firm earned $0.55 earnings per share. M.D.C. Holdings’s revenue was up 13.6% compared to the same quarter last year. On average, analysts expect that M.D.C. Holdings, Inc. will post $2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%.
Several equities research analysts have commented on the company. Deutsche Bank AG boosted their target price on M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub lowered M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Bank of America Corporation reissued an “underperform” rating and set a $27.00 target price (up from $24.00) on shares of M.D.C. Holdings in a report on Wednesday, June 28th. Finally, Wells Fargo & Company lowered M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Tuesday, May 16th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. M.D.C. Holdings presently has a consensus rating of “Hold” and a consensus target price of $31.20.
In other M.D.C. Holdings news, SVP Michael Touff sold 84,000 shares of M.D.C. Holdings stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $34.40, for a total transaction of $2,889,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the transaction, the director now directly owns 40,928 shares in the company, valued at $1,477,910.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,000 shares of company stock valued at $6,602,663. 25.30% of the stock is owned by insiders.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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