Ieq Capital LLC Takes $563,000 Position in Century Communities, Inc. $CCS

Key Points

• Ieq Capital LLC acquired a new position in Century Communities, Inc. by purchasing 8,397 shares valued at approximately $563,000 during the first quarter.
• Century Communities recently reported earnings of $1.37 per share, exceeding estimates, alongside a revenue of $1 billion, though it was down 1.7% compared to the previous year.
• The company has declared a quarterly dividend of $0.29 per share, with a 1.8% yield and a payout ratio of 14.16%, to be paid on September 10th.

Ieq Capital LLC purchased a new stake in Century Communities, Inc. (NYSE:CCS - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 8,397 shares of the construction company's stock, valued at approximately $563,000.

Several other hedge funds have also modified their holdings of CCS. Versant Capital Management Inc grew its stake in shares of Century Communities by 533.9% in the 1st quarter. Versant Capital Management Inc now owns 393 shares of the construction company's stock worth $26,000 after buying an additional 331 shares in the last quarter. US Bancorp DE increased its stake in Century Communities by 142.3% during the first quarter. US Bancorp DE now owns 395 shares of the construction company's stock worth $27,000 after acquiring an additional 232 shares during the last quarter. Covestor Ltd increased its stake in Century Communities by 104.5% during the first quarter. Covestor Ltd now owns 1,086 shares of the construction company's stock worth $73,000 after acquiring an additional 555 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Century Communities during the first quarter valued at approximately $91,000. Finally, GAMMA Investing LLC lifted its stake in shares of Century Communities by 60.3% in the 1st quarter. GAMMA Investing LLC now owns 1,579 shares of the construction company's stock valued at $106,000 after purchasing an additional 594 shares during the last quarter. 99.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CCS. B. Riley initiated coverage on shares of Century Communities in a research note on Monday, June 30th. They issued a "buy" rating and a $70.00 target price on the stock. Zacks Research lowered shares of Century Communities from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Finally, Wall Street Zen raised shares of Century Communities from a "sell" rating to a "hold" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Century Communities presently has a consensus rating of "Hold" and an average price target of $85.00.

Century Communities Stock Down 2.6%

Shares of Century Communities stock traded down $1.82 during trading on Tuesday, hitting $67.98. 48,125 shares of the stock traded hands, compared to its average volume of 421,293. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. The stock's fifty day simple moving average is $62.28 and its 200 day simple moving average is $60.74. The firm has a market cap of $2.02 billion, a P/E ratio of 8.32 and a beta of 1.46. Century Communities, Inc. has a 52-week low of $50.42 and a 52-week high of $108.42.

Century Communities (NYSE:CCS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.21. Century Communities had a net margin of 6.03% and a return on equity of 10.99%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $910.70 million. During the same period in the prior year, the business earned $2.65 EPS. The firm's quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Century Communities, Inc. will post 11.07 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.7%. Century Communities's dividend payout ratio is currently 14.16%.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.