California Public Employees Retirement System Raises Stake in M.D.C. Holdings, Inc. (NYSE:MDC)

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.D.C. 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.

Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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