Meritage Portfolio Management Purchases 373 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Meritage Portfolio Management boosted its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 5.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,998 shares of the construction company’s stock after acquiring an additional 373 shares during the period. Meritage Portfolio Management’s holdings in M.D.C. were worth $387,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in M.D.C. in the 4th quarter worth $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of M.D.C. in the 4th quarter worth about $25,000. Ronald Blue Trust Inc. lifted its position in shares of M.D.C. by 100.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 640 shares of the construction company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Clear Street Markets LLC purchased a new stake in shares of M.D.C. in the 3rd quarter worth about $29,000. Finally, GAMMA Investing LLC purchased a new stake in shares of M.D.C. in the 4th quarter worth about $34,000. Institutional investors own 88.08% of the company’s stock.

Insiders Place Their Bets

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of M.D.C. stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the completion of the transaction, the director now directly owns 13,534 shares of the company’s stock, valued at $848,446.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MDC shares. StockNews.com started coverage on shares of M.D.C. in a research report on Friday, April 19th. They issued a “hold” rating for the company. Raymond James reaffirmed a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. Finally, Evercore ISI cut shares of M.D.C. from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $57.00 to $63.00 in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.13.

M.D.C. Price Performance

NYSE MDC remained flat at $62.98 during trading hours on Friday. 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 price-to-earnings ratio of 11.93 and a beta of 1.54. The firm has a 50 day moving average price of $62.78 and a two-hundred day moving average price of $54.47. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50.

M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, equities analysts anticipate that M.D.C. Holdings, Inc. will post 5.7 EPS for the current 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.