Massachusetts Financial Services Co. MA Buys New Position in M.D.C. Holdings, Inc. (NYSE:MDC)

Massachusetts Financial Services Co. MA purchased a new position in M.D.C. Holdings, Inc. (NYSE:MDCFree Report) in the third quarter, Holdings Channel reports. The fund purchased 77,518 shares of the construction company’s stock, valued at approximately $3,196,000.

Other hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC bought a new position in M.D.C. during the fourth quarter valued at approximately $263,371,000. Millennium Management LLC raised its position in M.D.C. by 259.7% during the fourth quarter. Millennium Management LLC now owns 593,177 shares of the construction company’s stock valued at $18,744,000 after acquiring an additional 428,286 shares in the last quarter. Norges Bank bought a new position in M.D.C. during the fourth quarter valued at approximately $13,291,000. Comerica Bank bought a new position in M.D.C. during the second quarter valued at approximately $167,930,000. Finally, Acadian Asset Management LLC raised its position in M.D.C. by 837.5% during the second quarter. Acadian Asset Management LLC now owns 364,361 shares of the construction company’s stock valued at $17,027,000 after acquiring an additional 325,497 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDC has been the topic of several recent research reports. Evercore ISI lowered shares of M.D.C. from an “outperform” rating to an “in-line” rating and raised their price objective for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lowered their price target on M.D.C. from $41.50 to $39.50 and set an “underweight” rating on the stock in a report on Thursday, November 2nd. StockNews.com began coverage on M.D.C. in a report on Wednesday, February 7th. They set a “hold” rating on the stock. Finally, Raymond James reiterated a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.13.

Check Out Our Latest Research Report on M.D.C.

M.D.C. Trading Down 0.0 %

Shares of MDC stock opened at $62.37 on Monday. M.D.C. Holdings, Inc. has a 12 month low of $34.79 and a 12 month high of $63.00. The company has a quick ratio of 3.92, a current ratio of 9.76 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $56.18 and its two-hundred day moving average is $48.18. The company has a market cap of $4.66 billion, a PE ratio of 11.81 and a beta of 1.55.

M.D.C. (NYSE:MDCGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. M.D.C.’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. Equities analysts predict that M.D.C. Holdings, Inc. will post 5.38 EPS for the current year.

M.D.C. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $2.20 annualized dividend and a dividend yield of 3.53%. M.D.C.’s payout ratio is 41.67%.

M.D.C. Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M.D.C. Holdings, Inc. (NYSE:MDCFree Report).

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

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.