Legal & General Group Plc Boosts Stake in M.D.C. Holdings, Inc. (MDC)

Legal & General Group Plc grew its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,340 shares of the construction company’s stock after acquiring an additional 8,901 shares during the quarter. Legal & General Group Plc owned 0.16% of M.D.C. Holdings worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in shares of M.D.C. Holdings by 34.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock valued at $139,000 after acquiring an additional 1,026 shares during the period. BlackRock Inc. boosted its position in shares of M.D.C. Holdings by 61,394.6% in the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock valued at $175,386,000 after acquiring an additional 5,826,961 shares during the period. HighTower Advisors LLC boosted its position in shares of M.D.C. Holdings by 11.4% in the first quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock valued at $274,000 after acquiring an additional 951 shares during the period. Karp Capital Management Corp bought a new stake in shares of M.D.C. Holdings in the first quarter valued at approximately $680,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of M.D.C. Holdings by 54.0% in the first quarter. PNC Financial Services Group Inc. now owns 10,109 shares of the construction company’s stock valued at $303,000 after acquiring an additional 3,544 shares during the period. 81.62% of the stock is owned by institutional investors.

M.D.C. Holdings, Inc. (NYSE:MDC) opened at 31.91 on Tuesday. The company has a market capitalization of $1.66 billion, a PE ratio of 13.52 and a beta of 1.35. M.D.C. Holdings, Inc. has a 12 month low of $22.31 and a 12 month high of $36.92. The company has a 50-day moving average price of $32.24 and a 200 day moving average price of $32.69.

M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. On average, equities research analysts forecast that M.D.C. Holdings, Inc. will post $2.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.25 dividend. The ex-dividend date was Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 3.13%.

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MDC has been the subject of several research reports. BidaskClub cut M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research cut M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation reissued an “underperform” rating and issued a $27.00 price objective (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Wells Fargo & Company raised M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 price objective for the company in a research report on Wednesday, August 30th. They noted that the move was a valuation call. Finally, Deutsche Bank AG increased their price objective on M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.20.

In related news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total value of $947,887.50. Following the completion of the sale, the director now directly owns 40,928 shares in the company, valued at approximately $1,477,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.30% of the company’s stock.

About M.D.C. Holdings

M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.

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

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