Principal Financial Group Inc. Cuts Stake in M.D.C. Holdings, Inc. (MDC)

Principal Financial Group Inc. lowered its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 38.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 395,066 shares of the construction company’s stock after selling 242,184 shares during the period. Principal Financial Group Inc. owned about 0.70% of M.D.C. worth $11,030,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can grew its stake in M.D.C. by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 60,681 shares of the construction company’s stock valued at $1,694,000 after purchasing an additional 1,970 shares during the last quarter. Royal Bank of Canada grew its stake in M.D.C. by 11.7% in the first quarter. Royal Bank of Canada now owns 19,791 shares of the construction company’s stock valued at $553,000 after purchasing an additional 2,073 shares during the last quarter. American Century Companies Inc. grew its stake in M.D.C. by 1.2% in the first quarter. American Century Companies Inc. now owns 241,779 shares of the construction company’s stock valued at $6,750,000 after purchasing an additional 2,751 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in M.D.C. by 6.9% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 46,764 shares of the construction company’s stock valued at $1,306,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Afam Capital Inc. grew its stake in M.D.C. by 1.2% in the first quarter. Afam Capital Inc. now owns 272,373 shares of the construction company’s stock valued at $7,605,000 after purchasing an additional 3,206 shares during the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Shares of NYSE MDC opened at $30.69 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 9.59 and a quick ratio of 2.49. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. M.D.C. Holdings, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $37.45.

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Wednesday, August 1st. The construction company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.27. The business had revenue of $749.60 million during the quarter, compared to the consensus estimate of $713.27 million. M.D.C. had a return on equity of 13.82% and a net margin of 6.91%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. equities analysts anticipate that M.D.C. Holdings, Inc. will post 3.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Wednesday, August 8th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Tuesday, August 7th. M.D.C.’s dividend payout ratio is presently 46.51%.

MDC has been the topic of several analyst reports. Zacks Investment Research lowered M.D.C. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. UBS Group reiterated a “buy” rating and issued a $35.00 target price (up previously from $32.00) on shares of M.D.C. in a research note on Friday, May 4th. Wedbush reiterated a “neutral” rating and issued a $30.00 target price (down previously from $33.00) on shares of M.D.C. in a research note on Friday, May 4th. Zelman & Associates upgraded M.D.C. from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Finally, Raymond James reiterated a “buy” rating and issued a $39.00 target price (up previously from $35.00) on shares of M.D.C. in a research note on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $35.38.

M.D.C. Company Profile

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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

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