Northern Trust Corp Sells 7,009 Shares of Century Communities, Inc. $CCS

Key Points

• Northern Trust Corp reduced its stake in Century Communities by 2.0%, selling 7,009 shares, and now holds 336,437 shares valued at approximately $22.57 million.
• Century Communities reported a quarterly EPS of $1.37, exceeding analyst expectations, though its revenue decreased by 1.7% year-over-year.
• The company declared a quarterly dividend of $0.29, with an annualized yield of 1.8%, and a dividend payout ratio of 14.16%.

Northern Trust Corp reduced its holdings in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,437 shares of the construction company's stock after selling 7,009 shares during the period. Northern Trust Corp owned about 1.10% of Century Communities worth $22,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CCS. Versant Capital Management Inc raised its position in 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 purchasing an additional 331 shares during the period. US Bancorp DE boosted its position in Century Communities by 142.3% during the first quarter. US Bancorp DE now owns 395 shares of the construction company's stock valued at $27,000 after buying an additional 232 shares during the period. Covestor Ltd grew its position in Century Communities by 104.5% during the 1st 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. GAMMA Investing LLC increased its stake in Century Communities by 60.3% in the 1st quarter. GAMMA Investing LLC now owns 1,579 shares of the construction company's stock worth $106,000 after purchasing an additional 594 shares during the period. Finally, Headlands Technologies LLC lifted its position in Century Communities by 172.4% in the first quarter. Headlands Technologies LLC now owns 2,740 shares of the construction company's stock valued at $184,000 after purchasing an additional 1,734 shares during the last quarter. 99.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCS. Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Zacks Research lowered Century Communities from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Finally, B. Riley assumed coverage on shares of Century Communities in a research report on Monday, June 30th. They issued a "buy" rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Century Communities currently has an average rating of "Hold" and a consensus target price of $85.00.

Century Communities Stock Up 4.5%

Shares of NYSE CCS traded up $2.95 during trading on Thursday, reaching $68.16. The company had a trading volume of 189,752 shares, compared to its average volume of 423,791. Century Communities, Inc. has a 12-month low of $50.42 and a 12-month high of $108.42. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.44. The business's 50-day moving average is $61.48 and its 200 day moving average is $60.98. The stock has a market cap of $2.02 billion, a PE ratio of 8.32 and a beta of 1.46.

Century Communities (NYSE:CCS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business posted $2.65 EPS. Century Communities's revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Century Communities, Inc. will post 11.07 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.7%. Century Communities's dividend payout ratio is presently 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.