Summit Global Investments Invests $1.13 Million in Century Communities, Inc. $CCS

Summit Global Investments acquired a new position in shares of Century Communities, Inc. (NYSE:CCS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,823 shares of the construction company’s stock, valued at approximately $1,134,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Axiom Investment Management LLC bought a new stake in Century Communities during the 1st quarter valued at $287,000. EMG Holdings L.P. boosted its position in Century Communities by 307.2% during the 1st quarter. EMG Holdings L.P. now owns 56,285 shares of the construction company’s stock worth $3,230,000 after acquiring an additional 42,464 shares during the period. Bank of America Corp DE grew its stake in shares of Century Communities by 4.9% in the first quarter. Bank of America Corp DE now owns 153,996 shares of the construction company’s stock worth $8,836,000 after purchasing an additional 7,134 shares in the last quarter. Amundi grew its stake in shares of Century Communities by 10.3% in the first quarter. Amundi now owns 5,079 shares of the construction company’s stock worth $291,000 after purchasing an additional 475 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Century Communities by 32.9% during the first quarter. California State Teachers Retirement System now owns 32,443 shares of the construction company’s stock valued at $1,862,000 after purchasing an additional 8,026 shares during the period. 99.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Century Communities from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their target price on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research report on Wednesday, April 29th. B. Riley Financial cut shares of Century Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $64.00 in a research note on Thursday, April 23rd. Finally, Zacks Research upgraded shares of Century Communities from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Century Communities currently has an average rating of “Hold” and an average target price of $67.00.

Century Communities Trading Down 1.6%

Shares of NYSE CCS opened at $70.60 on Friday. Century Communities, Inc. has a 12 month low of $47.28 and a 12 month high of $76.00. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.48 and a beta of 1.30. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $66.50 and a 200-day simple moving average of $62.39.

Century Communities (NYSE:CCS) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.67. The business had revenue of $927.23 million during the quarter, compared to analyst estimates of $857.23 million. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.Century Communities’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. Sell-side analysts predict that Century Communities, Inc. will post 4.86 EPS for the current year.

Century Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 26th. Century Communities’s dividend payout ratio (DPR) is presently 28.07%.

Century Communities Profile

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.