BlackRock Inc. Takes $367.97 Million Position in Century Communities, Inc. $CCS

Key Points

• BlackRock acquired a major stake in Century Communities during the second quarter, purchasing 5.13 million shares valued at approximately $367.97 million and owning 18.06% of the company.
• Analyst sentiment remains mixed, with Century Communities holding a consensus “Hold” rating and an average price target of $67.00; ratings range from Strong Buy to Sell.
• Century Communities exceeded quarterly earnings expectations, reporting $1.30 in EPS and $927.23 million in revenue, while declaring a quarterly dividend of $0.32 per share, representing a 1.8% yield.

BlackRock Inc. acquired a new position in shares of Century Communities, Inc. (NYSE:CCS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,134,988 shares of the construction company's stock, valued at approximately $367,973,000. BlackRock Inc. owned about 18.06% of Century Communities at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CCS. Parallel Advisors LLC lifted its position in shares of Century Communities by 207.6% in the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company's stock worth $36,000 after buying an additional 411 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Century Communities by 175.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock valued at $41,000 after buying an additional 465 shares during the last quarter. State of Wyoming acquired a new stake in Century Communities during the second quarter worth about $82,000. Aster Capital Management DIFC Ltd bought a new position in Century Communities in the fourth quarter worth about $70,000. Finally, Jones Financial Companies Lllp lifted its holdings in Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company's stock worth $81,000 after acquiring an additional 1,135 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company's stock.

Wall Street Analyst Weigh In

CCS has been the subject of several recent research reports. Zelman & Associates lowered Century Communities from a "neutral" rating to an "underperform" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. reduced their price objective on Century Communities from $49.00 to $45.00 and set an "underweight" rating for the company in a research report on Wednesday, April 29th. Zacks Research upgraded Century Communities from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Century Communities currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Century Communities Stock Performance

Shares of CCS opened at $70.22 on Wednesday. The firm has a 50-day moving average price of $68.03 and a 200 day moving average price of $62.64. The firm has a market capitalization of $2.00 billion, a PE ratio of 15.40 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. Century Communities, Inc. has a 52-week low of $47.28 and a 52-week high of $76.00.

Century Communities (NYSE:CCS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.67. The company had revenue of $927.23 million for the quarter, compared to the consensus estimate of $857.23 million. Century Communities had a net margin of 3.41% and a return on equity of 6.06%. Century Communities's revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. On average, sell-side analysts anticipate that Century Communities, Inc. will post 4.86 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 26th. Century Communities's dividend payout ratio (DPR) is currently 28.07%.

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.

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