ValuEngine upgraded shares of M.D.C. (NYSE:MDC) from a hold rating to a buy rating in a research report released on Wednesday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of M.D.C. from a strong-buy rating to a hold rating in a research report on Tuesday, February 13th. Raymond James Financial upgraded shares of M.D.C. from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research report on Tuesday, February 13th. They noted that the move was a valuation call. UBS Group upgraded shares of M.D.C. from a market perform rating to an outperform rating in a research report on Tuesday, February 13th. Finally, Bank of America raised their price objective on shares of M.D.C. from $31.00 to $34.00 and gave the company an underperform rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $33.71.
M.D.C. (MDC) opened at $28.18 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. M.D.C. has a 1 year low of $26.94 and a 1 year high of $37.45. The company has a market cap of $1,581.55, a P/E ratio of 11.30, a PEG ratio of 0.60 and a beta of 1.47.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were paid a $0.30 dividend. This is an increase from M.D.C.’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, February 6th. M.D.C.’s dividend payout ratio (DPR) is currently 48.10%.
In related news, Director David E. Blackford sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $28.18, for a total value of $70,450.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Herbert T. Buchwald sold 28,350 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.52, for a total transaction of $893,592.00. The disclosure for this sale can be found here. Company insiders own 25.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CVentures Inc. purchased a new stake in M.D.C. in the fourth quarter valued at approximately $233,531,000. BlackRock Inc. raised its stake in shares of M.D.C. by 11.2% during the fourth quarter. BlackRock Inc. now owns 6,564,388 shares of the construction company’s stock worth $209,273,000 after acquiring an additional 660,834 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of M.D.C. by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,364,077 shares of the construction company’s stock worth $144,930,000 after acquiring an additional 26,295 shares in the last quarter. Hamlin Capital Management LLC raised its stake in shares of M.D.C. by 6.6% during the fourth quarter. Hamlin Capital Management LLC now owns 1,195,187 shares of the construction company’s stock worth $38,103,000 after acquiring an additional 73,535 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of M.D.C. by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,008,669 shares of the construction company’s stock worth $32,156,000 after acquiring an additional 15,705 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.
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M.D.C. Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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