Covestor Ltd Trims Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

Covestor Ltd lowered its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,308 shares of the construction company’s stock after selling 806 shares during the period. Covestor Ltd’s holdings in M.D.C. were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDC. Quantbot Technologies LP bought a new position in M.D.C. in the 1st quarter worth about $72,000. Allspring Global Investments Holdings LLC boosted its position in shares of M.D.C. by 74.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,936 shares of the construction company’s stock valued at $91,000 after buying an additional 829 shares during the last quarter. Tower Research Capital LLC TRC raised its position in M.D.C. by 621.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the construction company’s stock worth $91,000 after buying an additional 2,019 shares during the last quarter. Signaturefd LLC lifted its stake in M.D.C. by 8.5% during the 2nd quarter. Signaturefd LLC now owns 2,669 shares of the construction company’s stock valued at $125,000 after acquiring an additional 208 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of M.D.C. by 40.4% during the 1st quarter. Captrust Financial Advisors now owns 2,873 shares of the construction company’s stock valued at $109,000 after acquiring an additional 827 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDC. Raymond James lifted their target price on shares of M.D.C. from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. StockNews.com started coverage on M.D.C. in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Wedbush increased their target price on M.D.C. from $28.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on M.D.C. from $41.50 to $39.50 and set an “underweight” rating on the stock in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.17.

Insider Activity

In other M.D.C. news, Director David E. Blackford sold 2,771 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $48.04, for a total value of $133,118.84. Following the completion of the sale, the director now directly owns 19,734 shares of the company’s stock, valued at approximately $948,021.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 23.30% of the company’s stock.

M.D.C. Trading Down 0.4 %

Shares of MDC traded down $0.19 during midday trading on Tuesday, hitting $44.36. The stock had a trading volume of 81,238 shares, compared to its average volume of 599,623. The company has a debt-to-equity ratio of 0.49, a current ratio of 9.50 and a quick ratio of 3.79. The firm has a market cap of $3.31 billion, a PE ratio of 9.21 and a beta of 1.46. M.D.C. Holdings, Inc. has a 1 year low of $30.59 and a 1 year high of $51.94. The stock’s 50 day moving average is $40.84 and its 200 day moving average is $43.96.

M.D.C. (NYSE:MDC) last released its earnings results on Thursday, October 26th. The construction company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.22. M.D.C. had a return on equity of 11.35% and a net margin of 7.50%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was down 22.8% on a year-over-year basis. As a group, analysts forecast that M.D.C. Holdings, Inc. will post 5.11 EPS for the current fiscal year.

M.D.C. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $2.20 annualized dividend and a dividend yield of 4.96%. M.D.C.’s dividend payout ratio (DPR) is 45.83%.

M.D.C. Profile

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.