Peregrine Capital Management LLC grew its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,914 shares of the construction company’s stock after acquiring an additional 2,386 shares during the quarter. Peregrine Capital Management LLC owned about 0.26% of M.D.C. worth $5,959,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of M.D.C. in the second quarter valued at $246,000. DAVENPORT & Co LLC purchased a new stake in shares of M.D.C. in the second quarter valued at $207,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of M.D.C. by 45.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,714 shares of the construction company’s stock valued at $204,000 after acquiring an additional 1,784 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of M.D.C. in the second quarter valued at $237,000. Finally, Columbus Circle Investors lifted its position in shares of M.D.C. by 45.7% in the second quarter. Columbus Circle Investors now owns 58,900 shares of the construction company’s stock valued at $2,103,000 after acquiring an additional 18,481 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
M.D.C. stock opened at $44.83 on Friday. The stock’s 50-day moving average is $36.72 and its 200-day moving average is $34.40. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.53 and a quick ratio of 1.85. M.D.C. Holdings, Inc. has a 12 month low of $15.75 and a 12 month high of $48.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.94%. M.D.C.’s dividend payout ratio (DPR) is 35.48%.
In other news, CEO Larry A. Mizel sold 110,224 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $44.82, for a total value of $4,940,239.68. Following the completion of the sale, the chief executive officer now owns 230,849 shares in the company, valued at $10,346,652.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Siegel sold 29,194 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $44.90, for a total value of $1,310,810.60. Following the completion of the sale, the director now owns 11,621 shares of the company’s stock, valued at approximately $521,782.90. The disclosure for this sale can be found here. 25.20% of the stock is currently owned by company insiders.
Several research firms recently weighed in on MDC. Evercore ISI upgraded M.D.C. from an “in-line” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Wednesday. ValuEngine downgraded M.D.C. from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Raymond James reduced their target price on M.D.C. from $52.00 to $35.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 9th. Zacks Investment Research upgraded M.D.C. from a “sell” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their target price on M.D.C. from $38.50 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. M.D.C. has a consensus rating of “Hold” and an average target price of $43.33.
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.
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