Northern Trust Corp Has $25.43 Million Stake in M.D.C. Holdings, Inc. (MDC)

Northern Trust Corp reduced its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 904,779 shares of the construction company’s stock after selling 8,632 shares during the quarter. Northern Trust Corp owned about 1.60% of M.D.C. worth $25,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MDC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of M.D.C. by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,326 shares of the construction company’s stock worth $93,000 after purchasing an additional 683 shares in the last quarter. Bank of Montreal Can grew its stake in shares of M.D.C. by 14.1% in the fourth quarter. Bank of Montreal Can now owns 4,908 shares of the construction company’s stock worth $138,000 after purchasing an additional 605 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of M.D.C. in the fourth quarter worth $173,000. Stevens Capital Management LP bought a new position in shares of M.D.C. in the fourth quarter worth $233,000. Finally, Quantbot Technologies LP bought a new position in shares of M.D.C. in the third quarter worth $235,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

In other news, COO David D. Mandarich sold 55,000 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $29.65, for a total transaction of $1,630,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David E. Blackford sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.51, for a total value of $114,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,089 shares of company stock valued at $5,611,678. 26.30% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised M.D.C. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, April 10th. ValuEngine cut M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. M.D.C. presently has a consensus rating of “Hold” and a consensus price target of $34.00.

MDC stock traded up $0.13 during trading hours on Friday, hitting $31.34. 190,360 shares of the stock traded hands, compared to its average volume of 318,634. M.D.C. Holdings, Inc. has a one year low of $25.14 and a one year high of $33.47. The stock has a market capitalization of $1.92 billion, a P/E ratio of 8.54, a P/E/G ratio of 1.18 and a beta of 1.33. The company has a quick ratio of 2.49, a current ratio of 9.15 and a debt-to-equity ratio of 0.70.

M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, January 31st. The construction company reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.19). M.D.C. had a net margin of 6.93% and a return on equity of 14.50%. The firm had revenue of $858.49 million for the quarter, compared to the consensus estimate of $839.29 million. On average, sell-side analysts anticipate that M.D.C. Holdings, Inc. will post 3.25 earnings per share for the current year.

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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.

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

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