Century Communities, Inc. (NYSE:CCS) Shares Acquired by American Century Companies Inc.

Posted by Defense World Staff on Sep 4th, 2023

American Century Companies Inc. lifted its holdings in shares of Century Communities, Inc. (NYSE:CCS – Free Report) by 1,033.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,941 shares of the construction company’s stock after purchasing an additional 142,181 shares during the quarter. American Century Companies Inc. owned about 0.49% of Century Communities worth $9,334,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CCS. JPMorgan Chase & Co. lifted its position in shares of Century Communities by 72.6% during the first quarter. JPMorgan Chase & Co. now owns 128,730 shares of the construction company’s stock worth $6,896,000 after purchasing an additional 54,156 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Century Communities by 11.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,343 shares of the construction company’s stock worth $929,000 after purchasing an additional 1,823 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Century Communities by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 363,683 shares of the construction company’s stock worth $19,482,000 after purchasing an additional 7,071 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Century Communities by 57.7% during the first quarter. MetLife Investment Management LLC now owns 16,306 shares of the construction company’s stock worth $874,000 after purchasing an additional 5,965 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Century Communities by 3.2% during the first quarter. Rhumbline Advisers now owns 76,119 shares of the construction company’s stock worth $4,078,000 after purchasing an additional 2,381 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Century Communities Stock Performance

Shares of Century Communities stock opened at $76.03 on Monday. The firm has a market capitalization of $2.43 billion, a P/E ratio of 7.96 and a beta of 1.80. Century Communities, Inc. has a 52 week low of $40.26 and a 52 week high of $82.70. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $74.61 and its two-hundred day moving average is $67.70.

Century Communities (NYSE:CCS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.96 by $0.64. The company had revenue of $818.36 million for the quarter, compared to analyst estimates of $718.45 million. Century Communities had a net margin of 7.87% and a return on equity of 14.70%. The firm’s revenue was down 27.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.78 earnings per share. Research analysts forecast that Century Communities, Inc. will post 6.43 EPS for the current fiscal year.

Century Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 30th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.21%. Century Communities’s dividend payout ratio is currently 9.63%.

Analyst Ratings Changes

CCS has been the topic of several analyst reports. B. Riley raised their target price on shares of Century Communities from $82.00 to $92.00 in a report on Thursday, July 27th. Wedbush reaffirmed an “outperform” rating and issued a $89.00 target price on shares of Century Communities in a report on Thursday, July 27th. Finally, StockNews.com initiated coverage on shares of Century Communities in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Century Communities presently has an average rating of “Hold” and a consensus target price of $76.33.

Check Out Our Latest Stock Analysis on Century Communities

Insider Buying and Selling at Century Communities

In other Century Communities news, CFO David L. Messenger sold 45,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $70.13, for a total value of $3,155,850.00. Following the transaction, the chief financial officer now directly owns 175,001 shares in the company, valued at $12,272,820.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.90% of the stock is currently owned by insiders.

Century Communities Profile

(Free Report)

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.