Investment Management of Virginia LLC grew its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 172,448 shares of the construction company’s stock after buying an additional 7,863 shares during the period. M.D.C. comprises about 1.3% of Investment Management of Virginia LLC’s portfolio, making the stock its 23rd biggest holding. Investment Management of Virginia LLC’s holdings in M.D.C. were worth $5,498,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC acquired a new position in shares of M.D.C. in the 2nd quarter valued at about $930,000. UBS Asset Management Americas Inc. increased its holdings in shares of M.D.C. by 23.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,746 shares of the construction company’s stock valued at $804,000 after purchasing an additional 4,346 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of M.D.C. in the 3rd quarter valued at about $571,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of M.D.C. by 41.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 19,689 shares of the construction company’s stock valued at $654,000 after purchasing an additional 5,730 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of M.D.C. in the 3rd quarter valued at about $345,000. Institutional investors own 73.38% of the company’s stock.
In other M.D.C. news, Director Herbert T. Buchwald sold 28,350 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Siegel sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The disclosure for this sale can be found here. 25.30% of the stock is owned by corporate insiders.
M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, February 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). The company had revenue of $704.26 million for the quarter, compared to the consensus estimate of $722.48 million. M.D.C. had a return on equity of 11.00% and a net margin of 5.50%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. research analysts expect that M.D.C. Holdings, Inc. will post 2.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.96%. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. M.D.C.’s dividend payout ratio is presently 48.10%.
A number of brokerages have recently weighed in on MDC. Bank of America upped their target price on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a report on Friday, February 2nd. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research note on Thursday, February 1st. UBS Group lowered their price target on M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Monday, November 6th. Citigroup lowered their price target on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Finally, ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.50.
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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