Heartland Advisors Inc. Takes Position in Century Communities, Inc. $CCS

Key Points

• Heartland Advisors purchased 516,410 shares of Century Communities, valued at approximately $37 million, making CCS about 1.6% of its portfolio and the firm’s second-largest holding. Institutional investors and hedge funds collectively own 99.54% of the stock.
• Analyst sentiment remains mixed: Century Communities has an average rating of “Hold” and a consensus price target of $67, despite one Strong Buy, two Buy, two Hold and two Sell ratings.
• Century Communities exceeded quarterly earnings and revenue expectations, reporting $1.30 EPS and $927.2 million in revenue, while revenue declined 8.1% year over year. The company also declared a quarterly dividend of $0.32 per share, implying a 1.8% yield.

Heartland Advisors Inc. purchased a new position in Century Communities, Inc. (NYSE:CCS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 516,410 shares of the construction company's stock, valued at approximately $37,006,000. Century Communities makes up about 1.6% of Heartland Advisors Inc.'s holdings, making the stock its 2nd largest position. Heartland Advisors Inc. owned approximately 1.82% of Century Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 411 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 worth $41,000 after purchasing an additional 465 shares during the last quarter. State of Wyoming purchased a new stake in shares of Century Communities in the second quarter valued at approximately $82,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Century Communities in the fourth quarter valued at approximately $70,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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 valued at $81,000 after purchasing an additional 1,135 shares during the last quarter. 99.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCS has been the topic of a number of analyst reports. Zacks Research upgraded Century Communities from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Zelman & Associates cut Century Communities from a "neutral" rating to an "underperform" rating in a report on Tuesday, July 7th. Weiss Ratings raised Century Communities from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price target on Century Communities from $49.00 to $45.00 and set an "underweight" rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Century Communities presently has an average rating of "Hold" and a consensus target price of $67.00.

Century Communities Stock Performance

Century Communities stock opened at $69.94 on Friday. The firm has a 50 day simple moving average of $67.67 and a 200-day simple moving average of $62.61. Century Communities, Inc. has a 1-year low of $47.28 and a 1-year high of $76.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 15.34 and a beta of 1.30.

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

Century Communities Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, August 26th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. Century Communities's payout ratio 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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