California Public Employees Retirement System lifted its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 104,297 shares of the construction company’s stock after purchasing an additional 3,447 shares during the period. California Public Employees Retirement System owned about 0.20% of M.D.C. worth $3,464,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MDC. Virtu KCG Holdings LLC bought a new stake in M.D.C. in the second quarter valued at $803,000. Sterling Capital Management LLC bought a new stake in M.D.C. in the second quarter valued at $930,000. UBS Asset Management Americas Inc. boosted its holdings in M.D.C. by 23.6% in the second quarter. UBS Asset Management Americas Inc. now owns 22,746 shares of the construction company’s stock valued at $804,000 after acquiring an additional 4,346 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in M.D.C. in the third quarter valued at $571,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in M.D.C. by 41.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 19,689 shares of the construction company’s stock valued at $654,000 after acquiring an additional 5,730 shares in the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.
Shares of M.D.C. Holdings, Inc. (NYSE:MDC) opened at $34.12 on Friday. M.D.C. Holdings, Inc. has a fifty-two week low of $23.85 and a fifty-two week high of $35.05. The company has a market cap of $1,926.43, a price-to-earnings ratio of 12.24, a PEG ratio of 0.88 and a beta of 1.36. The company has a current ratio of 9.45, a quick ratio of 2.60 and a debt-to-equity ratio of 0.65.
M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, November 2nd. The construction company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.55. M.D.C. had a net margin of 6.09% and a return on equity of 11.66%. The firm had revenue of $586.30 million for the quarter, compared to analysts’ expectations of $595.05 million. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. sell-side analysts forecast that M.D.C. Holdings, Inc. will post 2.69 earnings per share for the current year.
MDC has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of M.D.C. in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of M.D.C. from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. UBS Group initiated coverage on shares of M.D.C. in a report on Wednesday, October 25th. They issued a “sell” rating and a $34.00 price target on the stock. ValuEngine cut shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Citigroup cut their price target on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.33.
In other news, Director Herbert T. Buchwald sold 28,350 shares of M.D.C. stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $31.52, for a total value of $893,592.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Siegel sold 2,500 shares of M.D.C. stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The disclosure for this sale can be found here. Insiders own 25.30% of the company’s stock.
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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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