Empowered Funds LLC Acquires New Holdings in Century Communities, Inc. $CCS

Key Points

• Empowered Funds LLC acquired 157,571 shares of Century Communities worth approximately $11.3 million, giving it a 0.55% stake. Institutional investors collectively own 99.54% of the company.
• Century Communities exceeded quarterly expectations with earnings of $1.30 per share versus the $0.63 consensus estimate, while revenue reached $927.2 million. However, revenue declined 8.1% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to an annualized $1.28 payout and a 1.8% yield. Analysts maintain a consensus “Hold” rating with a $67 price target, below the stock’s reported $69.21 price.

Empowered Funds LLC bought a new stake in Century Communities, Inc. (NYSE:CCS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 157,571 shares of the construction company's stock, valued at approximately $11,292,000. Empowered Funds LLC owned about 0.55% of Century Communities as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new position in shares of Century Communities during the 2nd quarter worth $1,509,000. Public Employees Retirement System of Ohio acquired a new position in Century Communities during the second quarter worth $8,034,000. Bank of America Corp DE bought a new position in Century Communities during the second quarter valued at about $12,589,000. Basswood Capital Management L.L.C. bought a new position in Century Communities during the second quarter valued at about $533,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Century Communities in the second quarter worth about $478,000. 99.54% of the stock is owned by institutional investors.

Century Communities Stock Performance

CCS opened at $69.21 on Friday. 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 stock's 50 day moving average price is $68.46 and its two-hundred day moving average price is $62.67. The firm has a market capitalization of $1.97 billion, a P/E ratio of 15.18 and a beta of 1.30. Century Communities, Inc. has a 12-month low of $47.28 and a 12-month high of $76.00.

Century Communities (NYSE:CCS - Get Free Report) last issued 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 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%.The company's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. On average, equities analysts forecast that Century Communities, Inc. will post 4.86 earnings per share for the current year.

Century Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zelman & Associates lowered Century Communities from a "neutral" rating to an "underperform" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings raised Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Finally, Zacks Research upgraded Century Communities from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $67.00.

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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