Janney Montgomery Scott LLC boosted its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,716 shares of the construction company’s stock after buying an additional 168 shares during the period. Janney Montgomery Scott LLC’s holdings in M.D.C. Holdings were worth $449,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MDC. State of Alaska Department of Revenue boosted its position in shares of M.D.C. Holdings by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,562 shares of the construction company’s stock valued at $137,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of M.D.C. Holdings by 1.4% in the second quarter. Capstone Asset Management Co. now owns 16,258 shares of the construction company’s stock valued at $574,000 after buying an additional 220 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of M.D.C. Holdings by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 16,864 shares of the construction company’s stock valued at $507,000 after buying an additional 299 shares in the last quarter. Arizona State Retirement System boosted its position in shares of M.D.C. Holdings by 1.4% in the first quarter. Arizona State Retirement System now owns 21,510 shares of the construction company’s stock valued at $646,000 after buying an additional 300 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of M.D.C. Holdings by 0.6% in the first quarter. Legal & General Group Plc now owns 71,439 shares of the construction company’s stock valued at $2,146,000 after buying an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Shares of M.D.C. Holdings, Inc. (NYSE:MDC) opened at 32.02 on Monday. The company has a 50-day moving average price of $34.76 and a 200-day moving average price of $32.24. M.D.C. Holdings, Inc. has a 52 week low of $21.25 and a 52 week high of $36.92. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.57 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The business had revenue of $648.97 million for the quarter, compared to the consensus estimate of $623.95 million. During the same quarter in the prior year, the company earned $0.55 EPS. The business’s revenue was up 13.6% compared to the same quarter last year. Equities analysts anticipate that M.D.C. Holdings, Inc. will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, August 7th.
A number of brokerages recently commented on MDC. Deutsche Bank AG raised their price target on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Bank of America Corporation reaffirmed an “underperform” rating and issued a $27.00 price target (up previously from $24.00) on shares of M.D.C. Holdings in a research note on Wednesday, June 28th. BidaskClub lowered M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, June 21st. Finally, Wells Fargo & Company lowered M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a research note on Tuesday, May 16th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.20.
In other news, Director David E. Blackford sold 26,250 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total transaction of $947,887.50. Following the transaction, the director now owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.30% of the stock is currently owned by corporate insiders.
About M.D.C. Holdings
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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