New York Life Investment Management LLC Has $377,000 Stock Position in M.D.C. Holdings, Inc. (NYSE:MDC)

New York Life Investment Management LLC trimmed its position in M.D.C. Holdings, Inc. (NYSE:MDCFree Report) by 13.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,145 shares of the construction company’s stock after selling 1,458 shares during the period. New York Life Investment Management LLC’s holdings in M.D.C. were worth $377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of M.D.C. by 74.6% during the 1st quarter. JPMorgan Chase & Co. now owns 258,677 shares of the construction company’s stock valued at $9,789,000 after buying an additional 110,564 shares in the last quarter. Citigroup Inc. lifted its stake in shares of M.D.C. by 0.7% during the 1st quarter. Citigroup Inc. now owns 84,150 shares of the construction company’s stock valued at $3,184,000 after buying an additional 568 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of M.D.C. by 21.6% during the 1st quarter. D.A. Davidson & CO. now owns 6,200 shares of the construction company’s stock valued at $235,000 after buying an additional 1,100 shares in the last quarter. MetLife Investment Management LLC lifted its stake in M.D.C. by 57.6% in the 1st quarter. MetLife Investment Management LLC now owns 30,993 shares of the construction company’s stock worth $1,173,000 after purchasing an additional 11,325 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in M.D.C. by 14.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,738 shares of the construction company’s stock worth $1,844,000 after purchasing an additional 6,003 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

M.D.C. Price Performance

MDC stock opened at $62.37 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.92 and a current ratio of 9.76. M.D.C. Holdings, Inc. has a 52 week low of $34.79 and a 52 week high of $63.00. The firm’s fifty day moving average is $56.18 and its 200 day moving average is $48.18. The firm has a market cap of $4.66 billion, a P/E ratio of 11.81 and a beta of 1.55.

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

M.D.C. Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MDC shares. JPMorgan Chase & Co. lowered their target price on shares of 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. Raymond James reiterated a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. StockNews.com started coverage on shares of M.D.C. in a research note on Wednesday, February 7th. They issued a “hold” rating on the stock. Finally, Evercore ISI lowered shares of M.D.C. from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $57.00 to $63.00 in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.13.

Check Out Our Latest Report on MDC

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.

See Also

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

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