Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,874 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 30.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,365 shares of the construction company’s stock after acquiring an additional 2,874 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in M.D.C. were worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cornercap Investment Counsel Inc. bought a new position in M.D.C. during the 4th quarter worth approximately $1,300,000. Louisiana State Employees Retirement System bought a new position in M.D.C. in the fourth quarter valued at approximately $1,652,000. International Assets Investment Management LLC lifted its stake in M.D.C. by 11,184.1% in the fourth quarter. International Assets Investment Management LLC now owns 21,327 shares of the construction company’s stock valued at $1,178,000 after buying an additional 21,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in M.D.C. by 8.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,489 shares of the construction company’s stock valued at $1,906,000 after buying an additional 2,638 shares in the last quarter. Finally, Nilsine Partners LLC lifted its stake in M.D.C. by 6.9% in the fourth quarter. Nilsine Partners LLC now owns 5,353 shares of the construction company’s stock valued at $296,000 after buying an additional 344 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

MDC has been the topic of a number of research reports. Evercore ISI lowered shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $57.00 to $63.00 in a research note on Wednesday, January 31st. Raymond James reaffirmed a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. Finally, StockNews.com initiated coverage on shares of M.D.C. in a research note on Saturday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.13.

Insider Buying and Selling

In related news, Director David E. Blackford sold 6,200 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total transaction of $388,678.00. Following the transaction, the director now directly owns 13,534 shares in the company, valued at $848,446.46. The sale was disclosed in a filing with the SEC, which is available through this link. 23.30% of the stock is owned by corporate insiders.

M.D.C. Price Performance

NYSE MDC opened at $62.98 on Wednesday. The company has a quick ratio of 3.92, a current ratio of 9.76 and a debt-to-equity ratio of 0.50. M.D.C. Holdings, Inc. has a 12-month low of $36.47 and a 12-month high of $63.00. The company has a market capitalization of $4.73 billion, a PE ratio of 11.93 and a beta of 1.54. The firm’s 50 day moving average is $62.82 and its 200-day moving average is $55.17.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The company 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 firm’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. Equities research analysts anticipate that M.D.C. Holdings, Inc. will post 5.7 earnings per share for the current fiscal year.

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.