Century Communities, Inc. $CCS Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in Century Communities by 26.8% in Q3 to 338,699 shares (about 1.15% ownership), valued at roughly $21.46 million.
• Chairman Dale Francescon sold 100,100 shares at an average price of $72.44 (≈$7.25M), cutting his ownership by 15.13%; corporate insiders now own 12.6% of the company.
• Century Communities beat Q earnings estimates with $1.59 EPS and reported $1.23 billion in revenue, and the board raised the quarterly dividend to $0.32 (annualized $1.28, ~2.2% yield).

JPMorgan Chase & Co. boosted its stake in Century Communities, Inc. (NYSE:CCS - Free Report) by 26.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 338,699 shares of the construction company's stock after buying an additional 71,688 shares during the period. JPMorgan Chase & Co. owned 1.15% of Century Communities worth $21,463,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CCS. EverSource Wealth Advisors LLC lifted its stake in shares of Century Communities by 175.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock worth $41,000 after acquiring an additional 465 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Century Communities by 1,513.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company's stock valued at $81,000 after acquiring an additional 1,135 shares during the period. State of Wyoming increased its stake in shares of Century Communities by 37.3% during the third quarter. State of Wyoming now owns 1,644 shares of the construction company's stock valued at $104,000 after acquiring an additional 447 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Century Communities during the third quarter worth approximately $119,000. Finally, Lazard Asset Management LLC lifted its position in Century Communities by 7.8% in the second quarter. Lazard Asset Management LLC now owns 2,405 shares of the construction company's stock worth $134,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 99.54% of the company's stock.

Insider Buying and Selling

In other news, Chairman Dale Francescon sold 100,100 shares of Century Communities stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $72.44, for a total value of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares of the company's stock, valued at $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.60% of the company's stock.

Century Communities Stock Performance

CCS opened at $57.68 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.68 billion, a PE ratio of 11.87 and a beta of 1.54. The business has a fifty day simple moving average of $65.64 and a 200-day simple moving average of $63.25. Century Communities, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $76.00.

Century Communities (NYSE:CCS - Get Free Report) last announced its earnings results on Wednesday, January 28th. The construction company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.39 by $0.20. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $3.54 earnings per share. Century Communities's revenue was down 3.1% compared to the same quarter last year. As a group, equities 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 was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.32 per share. This is a boost from Century Communities's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Century Communities's payout ratio is currently 26.34%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Communities in a research note on Wednesday, January 21st. Citizens Jmp assumed coverage on Century Communities in a research note on Wednesday, January 21st. They issued a "market outperform" rating and a $92.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Century Communities from $56.00 to $49.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. Zacks Research cut Century Communities from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. Finally, Citigroup started coverage on Century Communities in a report on Wednesday, January 21st. They set an "outperform" rating on the stock. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $74.75.

Century Communities Company 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.

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