Illinois Municipal Retirement Fund Sells 2,618 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Illinois Municipal Retirement Fund lessened its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,787 shares of the construction company’s stock after selling 2,618 shares during the period. Illinois Municipal Retirement Fund’s holdings in M.D.C. were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MDC. Vanguard Group Inc. raised its position in shares of M.D.C. by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,984,701 shares of the construction company’s stock valued at $287,979,000 after buying an additional 109,539 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of M.D.C. by 60.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock valued at $137,723,000 after buying an additional 940,810 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of M.D.C. by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,492,627 shares of the construction company’s stock valued at $61,541,000 after buying an additional 53,421 shares in the last quarter. American Century Companies Inc. raised its position in shares of M.D.C. by 30.9% during the 3rd quarter. American Century Companies Inc. now owns 925,602 shares of the construction company’s stock valued at $38,163,000 after buying an additional 218,647 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of M.D.C. by 23.0% during the 4th quarter. Raymond James & Associates now owns 898,855 shares of the construction company’s stock valued at $49,662,000 after buying an additional 168,214 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

M.D.C. Stock Performance

M.D.C. stock opened at $62.98 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92. M.D.C. Holdings, Inc. has a 1-year low of $36.47 and a 1-year high of $63.00. The firm has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The company’s 50-day moving average is $62.79 and its 200 day moving average is $54.63.

M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, January 30th. The construction company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Research analysts forecast that M.D.C. Holdings, Inc. will post 5.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MDC. StockNews.com began coverage on shares of M.D.C. in a research report on Saturday. They set a “hold” rating on the stock. Raymond James reissued a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. Finally, Evercore ISI lowered shares of M.D.C. from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $57.00 to $63.00 in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, M.D.C. currently has an average rating of “Hold” and a consensus price target of $52.13.

Insiders Place Their Bets

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the transaction, the director now directly owns 13,534 shares in the company, valued at approximately $848,446.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.30% of the company’s stock.

M.D.C. Company 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.