Prudential Financial Inc. grew its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 87.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 306,361 shares of the construction company’s stock after purchasing an additional 143,140 shares during the quarter. Prudential Financial Inc. owned about 0.59% of M.D.C. Holdings worth $10,824,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of M.D.C. Holdings in the first quarter valued at about $108,000. Glen Harbor Capital Management LLC grew its position in shares of M.D.C. Holdings by 18.8% in the first quarter. Glen Harbor Capital Management LLC now owns 3,876 shares of the construction company’s stock valued at $116,000 after purchasing an additional 612 shares during the last quarter. Winslow Evans & Crocker Inc. grew its position in shares of M.D.C. Holdings by 34.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock valued at $139,000 after purchasing an additional 1,026 shares during the last quarter. State of Alaska Department of Revenue grew 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 purchasing an additional 100 shares during the last quarter. Finally, Parsec Financial Management Inc. acquired a new stake in shares of M.D.C. Holdings in the second quarter valued at about $208,000. 81.62% of the stock is currently owned by institutional investors.
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In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, the director now directly owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.30% of the stock is owned by corporate insiders.
Several brokerages have recently issued reports on MDC. Deutsche Bank AG raised their price target on M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. BidaskClub downgraded M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $27.00 price target (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Zacks Investment Research raised M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, June 21st. Finally, Wells Fargo & Company downgraded M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Tuesday, May 16th. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. M.D.C. Holdings has a consensus rating of “Hold” and a consensus price target of $31.20.
Shares of M.D.C. Holdings, Inc. (NYSE:MDC) opened at 31.02 on Tuesday. The company’s 50-day moving average price is $32.81 and its 200-day moving average price is $32.64. M.D.C. Holdings, Inc. has a 52-week low of $22.31 and a 52-week high of $36.92. The firm has a market capitalization of $1.61 billion, a P/E ratio of 13.14 and a beta of 1.35.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $648.97 million for the quarter, compared to analysts’ expectations of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities research analysts expect that M.D.C. Holdings, Inc. will post $2.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a $0.25 dividend. The ex-dividend date was Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 3.22%.
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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