First Trust Advisors LP Sells 100,928 Shares of M.D.C. Holdings, Inc. (MDC)
First Trust Advisors LP cut its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 68.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,803 shares of the construction company’s stock after selling 100,928 shares during the period. First Trust Advisors LP owned approximately 0.09% of M.D.C. worth $1,554,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. First Allied Advisory Services Inc. increased its position in shares of M.D.C. by 0.7% during the second quarter. First Allied Advisory Services Inc. now owns 8,960 shares of the construction company’s stock worth $320,000 after acquiring an additional 60 shares in the last quarter. Janney Montgomery Scott LLC grew its position in M.D.C. by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,716 shares of the construction company’s stock worth $449,000 after purchasing an additional 168 shares in the last quarter. Texas Permanent School Fund grew its position in M.D.C. by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 30,116 shares of the construction company’s stock worth $1,064,000 after purchasing an additional 221 shares in the last quarter. High Falls Advisors Inc grew its position in M.D.C. by 3.9% in the 2nd quarter. High Falls Advisors Inc now owns 13,577 shares of the construction company’s stock worth $480,000 after purchasing an additional 515 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in M.D.C. by 7.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,818 shares of the construction company’s stock worth $381,000 after purchasing an additional 709 shares in the last quarter. 80.03% of the stock is owned by institutional investors.
Shares of M.D.C. Holdings, Inc. (NYSE MDC) traded down $0.19 during mid-day trading on Friday, hitting $35.63. 465,355 shares of the company were exchanged, compared to its average volume of 516,813. The stock has a market cap of $1,820.00, a PE ratio of 11.73, a P/E/G ratio of 1.08 and a beta of 1.40. The company has a quick ratio of 2.60, a current ratio of 9.45 and a debt-to-equity ratio of 0.65. M.D.C. Holdings, Inc. has a 12 month low of $25.40 and a 12 month high of $37.45.
M.D.C. (NYSE:MDC) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.55. The company had revenue of $586.30 million for the quarter, compared to analysts’ expectations of $595.05 million. M.D.C. had a net margin of 6.09% and a return on equity of 11.66%. M.D.C.’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. sell-side analysts anticipate that M.D.C. Holdings, Inc. will post 2.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 7th. M.D.C.’s payout ratio is currently 33.33%.
A number of equities research analysts have issued reports on the stock. UBS assumed coverage on shares of M.D.C. in a research report on Wednesday, October 25th. They issued a “sell” rating and a $34.00 price objective for the company. Deutsche Bank boosted their target price on shares of M.D.C. from $27.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Citigroup dropped their target price on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of M.D.C. in a research note on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.33.
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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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