California Public Employees Retirement System raised its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 0.20% of M.D.C. worth $3,464,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDC. Amalgamated Bank bought a new position in shares of M.D.C. during the 2nd quarter valued at about $202,000. Capital Fund Management S.A. purchased a new stake in shares of M.D.C. during the 2nd quarter valued at about $223,000. Sawgrass Asset Management LLC purchased a new stake in shares of M.D.C. during the 3rd quarter valued at about $262,000. Parametrica Management Ltd purchased a new stake in shares of M.D.C. during the 3rd quarter valued at about $285,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of M.D.C. during the 3rd quarter valued at about $306,000. 73.38% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on MDC. Bank of America upped their target price on shares of M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research report on Friday. Zacks Investment Research upgraded shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Thursday. UBS Group decreased their target price on shares of M.D.C. from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Monday, November 6th. Citigroup decreased their target price on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Finally, ValuEngine cut shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. M.D.C. currently has an average rating of “Hold” and a consensus price target of $33.50.
In other news, Director David Siegel sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $31.83, for a total transaction of $79,575.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herbert T. Buchwald sold 28,350 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $31.52, for a total transaction of $893,592.00. The disclosure for this sale can be found here. Corporate insiders own 25.30% of the company’s stock.
M.D.C. Holdings, Inc. (MDC) traded down $2.43 during trading on Monday, reaching $29.58. 1,550,550 shares of the company were exchanged, compared to its average volume of 685,644. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. M.D.C. Holdings, Inc. has a 12 month low of $26.56 and a 12 month high of $37.45. The stock has a market cap of $1,796.51, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.79 and a beta of 1.34.
M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Thursday, February 1st. The construction company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). M.D.C. had a return on equity of 11.00% and a net margin of 5.50%. The firm had revenue of $704.26 million during the quarter, compared to analysts’ expectations of $722.48 million. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities analysts predict that M.D.C. Holdings, Inc. will post 2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be given a $0.30 dividend. This is a positive change from M.D.C.’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Tuesday, February 6th. M.D.C.’s dividend payout ratio is 37.28%.
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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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