M.D.C. Holdings, Inc. (NYSE:MDC) Shares Bought by Peregrine Capital Management LLC

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.

M.D.C. (NYSE:MDC) last released its quarterly earnings data on Tuesday, July 28th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.48. The company had revenue of $886.80 million for the quarter, compared to the consensus estimate of $806.74 million. M.D.C. had a return on equity of 14.75% and a net margin of 7.52%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Research analysts anticipate that M.D.C. Holdings, Inc. will post 3.9 EPS for the current year.

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.

About M.D.C.

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

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