Rafferty Asset Management LLC Increases Stock Position in Century Communities, Inc. $CCS

Rafferty Asset Management LLC boosted its holdings in Century Communities, Inc. (NYSE:CCS) by 78.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,972 shares of the construction company’s stock after buying an additional 17,157 shares during the period. Rafferty Asset Management LLC’s holdings in Century Communities were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in shares of Century Communities by 840.8% in the third quarter. US Bancorp DE now owns 4,864 shares of the construction company’s stock worth $308,000 after acquiring an additional 4,347 shares during the period. Heartland Advisors Inc. boosted its stake in Century Communities by 8.7% in the 3rd quarter. Heartland Advisors Inc. now owns 456,003 shares of the construction company’s stock worth $28,897,000 after purchasing an additional 36,521 shares during the period. Denali Advisors LLC purchased a new position in Century Communities during the 3rd quarter valued at about $1,375,000. JPMorgan Chase & Co. increased its position in shares of Century Communities by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 338,699 shares of the construction company’s stock valued at $21,463,000 after buying an additional 71,688 shares during the period. Finally, New South Capital Management Inc. purchased a new stake in shares of Century Communities in the third quarter worth about $10,028,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Insider Activity at Century Communities

In other news, Chairman Dale Francescon sold 100,100 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares in the company, valued at approximately $40,686,795.28. This represents a 15.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.90% of the company’s stock.

Century Communities Price Performance

CCS stock opened at $64.64 on Thursday. The firm has a 50 day simple moving average of $66.43 and a two-hundred day simple moving average of $63.98. The stock has a market cap of $1.88 billion, a PE ratio of 13.30 and a beta of 1.54. Century Communities, Inc. has a one year low of $50.42 and a one year high of $76.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 1.08.

Century Communities (NYSE:CCS) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $3.54 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that Century Communities, Inc. will post 11.07 EPS for the current fiscal year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, February 25th. This is an increase from Century Communities’s previous quarterly dividend of $0.29. Century Communities’s dividend payout ratio (DPR) is currently 26.34%.

Analyst Ratings Changes

Several equities analysts recently commented on CCS shares. Citizens Jmp assumed coverage on shares of Century Communities in a research note on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 price objective for the company. Citigroup started coverage on shares of Century Communities in a report on Wednesday, January 21st. They issued an “outperform” rating for the company. Zacks Research lowered shares of Century Communities from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. decreased their price target on shares of Century Communities from $56.00 to $49.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Century Communities in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Century Communities presently has a consensus rating of “Hold” and an average price target of $74.75.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.