State Street Corp raised its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,527,659 shares of the construction company’s stock after buying an additional 32,826 shares during the quarter. State Street Corp owned approximately 2.94% of M.D.C. Holdings worth $53,976,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MDC. BlackRock Inc. grew its holdings in M.D.C. Holdings by 61,394.6% in the 1st quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock valued at $175,386,000 after buying an additional 5,826,961 shares during the period. Vanguard Group Inc. grew its holdings in shares of M.D.C. Holdings by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after purchasing an additional 561,481 shares during the period. Federated Investors Inc. PA grew its holdings in shares of M.D.C. Holdings by 80,713.5% during the 2nd quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock worth $8,651,000 after purchasing an additional 244,562 shares during the period. Prudential Financial Inc. grew its holdings in shares of M.D.C. Holdings by 87.7% during the 2nd quarter. Prudential Financial Inc. now owns 306,361 shares of the construction company’s stock worth $10,824,000 after purchasing an additional 143,140 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of M.D.C. Holdings during the 2nd quarter worth about $4,728,000. Institutional investors own 80.45% of the company’s stock.
A number of analysts have recently issued reports on the company. UBS AG assumed coverage on M.D.C. Holdings in a report on Wednesday, October 25th. They set a “sell” rating and a $34.00 target price for the company. BidaskClub cut M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG boosted their target price on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research cut M.D.C. Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of M.D.C. Holdings in a report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. M.D.C. Holdings presently has an average rating of “Hold” and an average target price of $30.00.
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M.D.C. Holdings (NYSE:MDC) last released its earnings results on Monday, October 30th. The construction company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.55. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The firm had revenue of $586.30 million for the quarter, compared to analyst estimates of $595.05 million. During the same quarter last year, the firm posted $0.54 EPS. The company’s revenue was up 1.4% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Tuesday, November 7th.
M.D.C. Holdings 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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