Groesbeck Investment Management Corp NJ Has $1.47 Million Stock Position in M.D.C. Holdings, Inc. (NYSE:MDC)

Groesbeck Investment Management Corp NJ grew its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,678 shares of the construction company’s stock after acquiring an additional 2,150 shares during the quarter. M.D.C. accounts for 2.0% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 12th biggest position. Groesbeck Investment Management Corp NJ’s holdings in M.D.C. were worth $1,474,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC acquired a new position in M.D.C. during the 4th quarter worth approximately $263,371,000. Vanguard Group Inc. boosted its holdings in shares of M.D.C. by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,984,701 shares of the construction company’s stock valued at $287,979,000 after buying an additional 109,539 shares during the last quarter. State Street Corp boosted its holdings in shares of M.D.C. by 3.8% in the 2nd quarter. State Street Corp now owns 2,576,453 shares of the construction company’s stock valued at $120,501,000 after buying an additional 94,919 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of M.D.C. by 60.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock valued at $137,723,000 after buying an additional 940,810 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of M.D.C. by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,492,627 shares of the construction company’s stock valued at $61,541,000 after buying an additional 53,421 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

M.D.C. Stock Performance

M.D.C. stock traded up $0.04 during mid-day trading on Thursday, hitting $62.99. 1,628,335 shares of the company’s stock traded hands, compared to its average volume of 1,909,314. The firm has a 50 day simple moving average of $62.70 and a two-hundred day simple moving average of $53.60. M.D.C. Holdings, Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $63.00. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92.

M.D.C. (NYSE:MDC) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.06. M.D.C. had a return on equity of 12.32% and a net margin of 8.64%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s quarterly revenue was down 11.9% on a year-over-year basis. On average, research analysts expect that M.D.C. Holdings, Inc. will post 5.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDC. Evercore ISI downgraded M.D.C. from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $57.00 to $63.00 in a report on Wednesday, January 31st. Raymond James reissued a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. Finally, StockNews.com began coverage on M.D.C. in a report on Thursday, April 11th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.13.

Insider Buying and Selling at M.D.C.

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.69, for a total transaction of $388,678.00. Following the completion of the sale, the director now owns 13,534 shares of the company’s stock, valued at approximately $848,446.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.30% of the company’s stock.

M.D.C. Profile

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.