Swiss National Bank Grows Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

Posted by Defense World Staff on May 21st, 2023

Swiss National Bank raised its position in M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,543 shares of the construction company’s stock after purchasing an additional 2,500 shares during the period. Swiss National Bank owned about 0.19% of M.D.C. worth $4,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDC. Pacer Advisors Inc. purchased a new position in shares of M.D.C. during the 4th quarter worth about $13,721,000. Dimensional Fund Advisors LP lifted its holdings in shares of M.D.C. by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,807,068 shares of the construction company’s stock worth $131,813,000 after acquiring an additional 247,697 shares during the period. Advisors Capital Management LLC purchased a new position in shares of M.D.C. during the 3rd quarter worth about $6,670,000. River Road Asset Management LLC purchased a new position in shares of M.D.C. during the 3rd quarter worth about $4,391,000. Finally, Invesco Ltd. lifted its holdings in shares of M.D.C. by 69.5% during the 1st quarter. Invesco Ltd. now owns 371,508 shares of the construction company’s stock worth $14,057,000 after acquiring an additional 152,388 shares during the period. 82.21% of the stock is currently owned by hedge funds and other institutional investors.

M.D.C. Stock Performance

MDC stock opened at $42.42 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.43 and a current ratio of 9.12. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 6.30 and a beta of 1.37. M.D.C. Holdings, Inc. has a 1 year low of $27.04 and a 1 year high of $43.66. The stock’s fifty day moving average is $39.19 and its two-hundred day moving average is $36.04.

M.D.C. (NYSE:MDC – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.64. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $887.13 million. M.D.C. had a return on equity of 16.34% and a net margin of 8.99%. The company’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period last year, the company earned $2.02 earnings per share. On average, research analysts predict that M.D.C. Holdings, Inc. will post 3.23 EPS for the current year.

M.D.C. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $2.00 dividend on an annualized basis and a yield of 4.71%. M.D.C.’s dividend payout ratio is currently 29.72%.

Insider Buying and Selling

In other M.D.C. news, Director David E. Blackford sold 4,500 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $36.67, for a total transaction of $165,015.00. Following the completion of the sale, the director now directly owns 20,587 shares in the company, valued at approximately $754,925.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M.D.C. news, Director Herbert T. Buchwald sold 8,349 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $36.20, for a total transaction of $302,233.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David E. Blackford sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $36.67, for a total value of $165,015.00. Following the transaction, the director now owns 20,587 shares of the company’s stock, valued at $754,925.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 337,609 shares of company stock valued at $13,923,750. 23.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MDC has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of M.D.C. in a research report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of M.D.C. from $30.50 to $27.50 and set an “underweight” rating for the company in a research report on Monday, March 6th. Finally, Wedbush reaffirmed a “neutral” rating on shares of M.D.C. in a research report on Tuesday, February 7th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, M.D.C. currently has an average rating of “Hold” and an average price target of $27.50.

M.D.C. Company Profile

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M.DC Holdings, Inc engages in proving homebuilding and financial services. It operates through the following business segments: West, Mountain, and East. The West segment includes operations in Arizona, California, Nevada, New Mexico, Oregon, Texas, and Washington. The Mountain segment refers to the operations in Colorado, Idaho, and Utah.