Algert Global LLC reduced its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 31,374 shares of the construction company’s stock after selling 2,736 shares during the period. Algert Global LLC’s holdings in M.D.C. Holdings were worth $1,108,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MDC. LSV Asset Management raised its stake in shares of M.D.C. Holdings by 729.1% in the first quarter. LSV Asset Management now owns 86,223 shares of the construction company’s stock valued at $2,591,000 after buying an additional 75,823 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of M.D.C. Holdings by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 58,350 shares of the construction company’s stock valued at $1,752,000 after buying an additional 4,781 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of M.D.C. Holdings by 41.8% in the first quarter. Canada Pension Plan Investment Board now owns 298,735 shares of the construction company’s stock valued at $8,977,000 after buying an additional 88,000 shares in the last quarter. Hamlin Capital Management LLC raised its stake in shares of M.D.C. Holdings by 62.0% in the first quarter. Hamlin Capital Management LLC now owns 1,475,761 shares of the construction company’s stock valued at $44,347,000 after buying an additional 564,646 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of M.D.C. Holdings by 0.9% in the first quarter. Janney Montgomery Scott LLC now owns 12,548 shares of the construction company’s stock valued at $377,000 after buying an additional 111 shares in the last quarter. 80.20% of the stock is currently owned by institutional investors and hedge funds.

M.D.C. Holdings, Inc. (NYSE MDC) opened at 33.38 on Thursday. The stock has a market cap of $1.73 billion, a P/E ratio of 14.14 and a beta of 1.36. The stock has a 50 day moving average of $35.29 and a 200 day moving average of $32.00. M.D.C. Holdings, Inc. has a 1-year low of $22.31 and a 1-year high of $36.92.

M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm had revenue of $648.97 million for the quarter, compared to analysts’ expectations of $623.95 million. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts anticipate that M.D.C. Holdings, Inc. will post $2.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, August 7th.

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Several brokerages have commented on MDC. BidaskClub raised shares of M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, June 29th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $27.00 price objective (up previously from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Wells Fargo & Company lowered shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, May 16th. Finally, Deutsche Bank AG lifted their price objective on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.20.

In other news, Director Herbert T. Buchwald sold 26,250 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $34.14, for a total value of $896,175.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael A. Berman sold 52,500 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $35.60, for a total transaction of $1,869,000.00. The disclosure for this sale can be found here. Insiders sold a total of 189,000 shares of company stock worth $6,602,663 in the last quarter. Company insiders own 25.30% of the company’s stock.

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

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