Summit Global Investments Purchases New Holdings in Century Communities, Inc. $CCS

Key Points

• Summit Global Investments acquired 15,823 shares of Century Communities in the second quarter, valued at approximately $1.13 million. Institutional investors collectively own 99.54% of the company.
• Century Communities reported quarterly revenue of $927.23 million and adjusted earnings of $1.30 per share, exceeding analysts’ estimates, although 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’ average rating is “Hold,” with a consensus price target of $67.

Summit Global Investments acquired a new stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,823 shares of the construction company's stock, valued at approximately $1,134,000. Summit Global Investments owned approximately 0.06% of Century Communities as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Century Communities by 207.6% in the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company's stock valued at $36,000 after purchasing an additional 411 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Century Communities by 175.5% during the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock worth $41,000 after buying an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Century Communities in the fourth quarter worth $70,000. Meeder Asset Management Inc. bought a new stake in shares of Century Communities in the first quarter worth $81,000. Finally, Jones Financial Companies Lllp raised its holdings in 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 acquiring an additional 1,135 shares in the last quarter. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Century Communities Price Performance

Shares of CCS opened at $70.60 on Friday. Century Communities, Inc. has a 12 month low of $47.28 and a 12 month 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 fifty day moving average price of $66.50 and a 200 day moving average price of $62.39. The company has a market cap of $2.01 billion, a P/E ratio of 15.48 and a beta of 1.30.

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

Century Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, August 26th. Century Communities's dividend payout ratio (DPR) is 28.07%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. B. Riley Financial downgraded shares of Century Communities from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $75.00 to $64.00 in a research note on Thursday, April 23rd. Zelman & Associates downgraded shares of Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Century Communities from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Century Communities from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen upgraded Century Communities from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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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