State of Alaska Department of Revenue Lowers Stock Holdings in Century Communities, Inc. (NYSE:CCS)

State of Alaska Department of Revenue cut its stake in shares of Century Communities, Inc. (NYSE:CCS) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,097 shares of the construction company’s stock after selling 546 shares during the period. State of Alaska Department of Revenue’s holdings in Century Communities were worth $1,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CCS. Versant Capital Management Inc increased its holdings in shares of Century Communities by 533.9% in the first quarter. Versant Capital Management Inc now owns 393 shares of the construction company’s stock valued at $26,000 after purchasing an additional 331 shares during the period. Smartleaf Asset Management LLC increased its stake in Century Communities by 336.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 738 shares of the construction company’s stock valued at $54,000 after buying an additional 569 shares during the period. Sterling Capital Management LLC raised its position in Century Communities by 800.0% during the 4th quarter. Sterling Capital Management LLC now owns 774 shares of the construction company’s stock worth $57,000 after buying an additional 688 shares during the last quarter. Headlands Technologies LLC purchased a new position in Century Communities during the 4th quarter worth $74,000. 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 worth $106,000 after acquiring an additional 594 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush dropped their price target on shares of Century Communities from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Century Communities presently has a consensus rating of “Hold” and an average price target of $101.33.

Insider Activity

In other news, Director Elisa Z. Ramirez purchased 500 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $54.68 per share, for a total transaction of $27,340.00. Following the completion of the transaction, the director now directly owns 8,981 shares in the company, valued at $491,081.08. This represents a 5.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders purchased 2,400 shares of company stock worth $130,426. Company insiders own 11.90% of the company’s stock.

Century Communities Trading Up 1.0%

Shares of CCS stock opened at $55.62 on Friday. The business’s fifty day moving average price is $54.52 and its 200 day moving average price is $65.75. The firm has a market capitalization of $1.70 billion, a PE ratio of 5.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.57 and a quick ratio of 0.57. Century Communities, Inc. has a 1-year low of $50.42 and a 1-year high of $108.42.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.38). The company had revenue of $903.23 million for the quarter, compared to analysts’ expectations of $914.20 million. Century Communities had a return on equity of 12.80% and a net margin of 7.10%. Century Communities’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.22 earnings per share. As a group, sell-side analysts forecast that Century Communities, Inc. will post 11.07 EPS for the current fiscal year.

Century Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.09%. Century Communities’s payout ratio is 12.01%.

Century Communities 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.