Franklin Resources Inc. Has $9,367,000 Holdings in M.D.C. Holdings, Inc. (MDC)
Franklin Resources Inc. maintained its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,125 shares of the construction company’s stock at the end of the 2nd quarter. Franklin Resources Inc. owned about 0.51% of M.D.C. Holdings worth $9,367,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in M.D.C. Holdings in the first quarter valued at $108,000. Winslow Evans & Crocker Inc. grew its position in 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 in the last quarter. Parsec Financial Management Inc. bought a new position in M.D.C. Holdings in the second quarter valued at $208,000. Cambridge Investment Research Advisors Inc. bought a new position in M.D.C. Holdings in the first quarter valued at $255,000. Finally, HighTower Advisors LLC grew its position in M.D.C. Holdings by 11.4% in the first quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock valued at $274,000 after purchasing an additional 951 shares in the last quarter. 81.62% of the stock is owned by institutional investors.
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M.D.C. Holdings, Inc. (NYSE MDC) opened at 32.12 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of 13.61 and a beta of 1.35. M.D.C. Holdings, Inc. has a 52-week low of $22.31 and a 52-week high of $36.92. The company has a 50-day moving average of $32.18 and a 200-day moving average of $32.71.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million during the quarter, compared to analyst estimates of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. M.D.C. Holdings’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. On average, equities research analysts expect that M.D.C. Holdings, Inc. will post $2.43 earnings per share for the current fiscal year.
In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the completion of the sale, the director now owns 40,928 shares in the company, valued at approximately $1,477,910.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.30% of the company’s stock.
A number of research firms recently weighed in on MDC. Deutsche Bank AG raised their target price on shares of 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. Bank of America Corporation reaffirmed an “underperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, June 21st. BidaskClub downgraded shares of M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company raised shares of M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 target price for the company in a research report on Wednesday, August 30th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.20.
About M.D.C. Holdings
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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