Century Communities, Inc. $CCS Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in Century Communities, Inc. (NYSE:CCS) by 20.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,786 shares of the construction company’s stock after selling 13,126 shares during the quarter. Citigroup Inc. owned about 0.17% of Century Communities worth $3,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Summit Global Investments acquired a new position in Century Communities in the 3rd quarter valued at about $1,162,000. Penserra Capital Management LLC grew its stake in shares of Century Communities by 34.9% in the 2nd quarter. Penserra Capital Management LLC now owns 4,565 shares of the construction company’s stock valued at $257,000 after purchasing an additional 1,180 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Century Communities by 26.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,341,781 shares of the construction company’s stock valued at $75,569,000 after purchasing an additional 282,133 shares during the period. Denali Advisors LLC purchased a new stake in shares of Century Communities during the third quarter worth approximately $1,375,000. Finally, Creative Planning lifted its holdings in shares of Century Communities by 117.2% during the second quarter. Creative Planning now owns 37,891 shares of the construction company’s stock worth $2,134,000 after purchasing an additional 20,447 shares during the period. 99.54% of the stock is owned by hedge funds and other institutional investors.

Century Communities Stock Down 2.5%

Shares of NYSE CCS opened at $63.20 on Friday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.00 and a beta of 1.54. Century Communities, Inc. has a 52 week low of $50.42 and a 52 week high of $76.00. The firm has a 50-day moving average price of $66.52 and a 200 day moving average price of $63.98. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.43.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.20. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $3.54 earnings per share. Equities research analysts anticipate that Century Communities, Inc. will post 11.07 EPS for the current fiscal year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.32 per share. This is a boost from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 25th. Century Communities’s payout ratio is presently 26.34%.

Insider Buying and Selling

In other news, Chairman Dale Francescon sold 100,100 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $72.44, for a total value of $7,251,244.00. Following the completion of the transaction, the chairman owned 561,662 shares in the company, valued at $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Century Communities in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Century Communities from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Citizens Jmp began coverage on shares of Century Communities in a report on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Century Communities from $56.00 to $49.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Finally, Citigroup assumed coverage on Century Communities in a research report on Wednesday, January 21st. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.75.

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.