Bahl & Gaynor Inc. Has $23.77 Million Position in M.D.C. Holdings, Inc. (NYSE:MDC)

Bahl & Gaynor Inc. raised its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 430,168 shares of the construction company’s stock after purchasing an additional 8,065 shares during the period. Bahl & Gaynor Inc.’s holdings in M.D.C. were worth $23,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MDC. Pacer Advisors Inc. boosted its position in shares of M.D.C. by 60.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock valued at $137,723,000 after acquiring an additional 940,810 shares during the period. American Century Companies Inc. boosted its position in shares of M.D.C. by 30.9% in the third quarter. American Century Companies Inc. now owns 925,602 shares of the construction company’s stock valued at $38,163,000 after acquiring an additional 218,647 shares during the period. Raymond James & Associates boosted its position in shares of M.D.C. by 23.0% in the fourth quarter. Raymond James & Associates now owns 898,855 shares of the construction company’s stock valued at $49,662,000 after acquiring an additional 168,214 shares during the period. Barclays PLC boosted its position in shares of M.D.C. by 179.8% in the third quarter. Barclays PLC now owns 261,763 shares of the construction company’s stock valued at $10,791,000 after acquiring an additional 168,206 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of M.D.C. by 56.1% in the third quarter. Schroder Investment Management Group now owns 305,599 shares of the construction company’s stock valued at $12,600,000 after acquiring an additional 109,859 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at M.D.C.

In other news, Director David E. Blackford sold 6,200 shares of the 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 owns 13,534 shares of the company’s stock, valued at $848,446.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.30% of the company’s stock.

M.D.C. Price Performance

MDC remained flat at $62.98 on Friday. M.D.C. Holdings, Inc. has a 52-week low of $36.47 and a 52-week high of $63.00. The firm has a 50 day moving average of $62.79 and a 200-day moving average of $54.63. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share 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%. M.D.C.’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, research analysts anticipate that M.D.C. Holdings, Inc. will post 5.7 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MDC. Evercore ISI cut shares of M.D.C. from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. Raymond James reissued a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. Finally, StockNews.com initiated coverage on shares of M.D.C. in a research report on Friday, April 19th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, M.D.C. currently has an average rating of “Hold” and an average target price of $52.13.

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.