New York Life Investment Management LLC Sells 1,458 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

New York Life Investment Management LLC decreased its position in M.D.C. Holdings, Inc. (NYSE:MDCFree Report) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ronald Blue Trust Inc. lifted its holdings in M.D.C. by 100.0% in the third quarter. Ronald Blue Trust Inc. now owns 640 shares of the construction company’s stock valued at $26,000 after buying an additional 320 shares during the period. CWM LLC raised its holdings in shares of M.D.C. by 31.7% during the third quarter. CWM LLC now owns 1,447 shares of the construction company’s stock valued at $60,000 after purchasing an additional 348 shares during the period. Quantbot Technologies LP acquired a new position in shares of M.D.C. during the first quarter valued at about $72,000. Allspring Global Investments Holdings LLC raised its holdings 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 purchasing an additional 829 shares during the period. Finally, Adirondack Trust Co. acquired a new position in shares of M.D.C. during the third quarter valued at about $82,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

M.D.C. Trading Down 0.0 %

NYSE:MDC opened at $62.37 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92. The firm has a 50-day moving average of $56.18 and a 200-day moving average of $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. Holdings, Inc. has a one year low of $34.79 and a one year high of $63.00.

M.D.C. (NYSE:MDCGet Free Report) last posted its earnings results on Tuesday, January 30th. The construction company reported $1.56 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts expect that M.D.C. Holdings, Inc. will post 5.38 EPS for the current fiscal year.

M.D.C. Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDC. Raymond James reiterated a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. JPMorgan Chase & Co. dropped their price objective on shares of 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 shares of M.D.C. in a report on Wednesday, February 7th. They set 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 upped their price objective for the company from $57.00 to $63.00 in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, M.D.C. currently has an average rating of “Hold” and a consensus price target of $52.13.

View Our Latest Research 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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