JPMorgan Chase & Co. Raises Stake in Century Communities, Inc. (NYSE:CCS)

JPMorgan Chase & Co. grew its holdings in Century Communities, Inc. (NYSE:CCS) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 206,798 shares of the construction company’s stock after buying an additional 10,453 shares during the period. JPMorgan Chase & Co.’s holdings in Century Communities were worth $21,296,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CCS. Ausbil Investment Management Ltd purchased a new stake in Century Communities during the 3rd quarter valued at approximately $618,000. Seven Eight Capital LP acquired a new position in shares of Century Communities in the second quarter valued at approximately $624,000. Quest Partners LLC raised its stake in shares of Century Communities by 314.1% during the third quarter. Quest Partners LLC now owns 14,274 shares of the construction company’s stock worth $1,470,000 after purchasing an additional 10,827 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Century Communities by 15.9% during the second quarter. Point72 Asset Management L.P. now owns 41,733 shares of the construction company’s stock worth $3,408,000 after purchasing an additional 5,733 shares during the period. Finally, Pier Capital LLC grew its position in Century Communities by 33.0% in the 2nd quarter. Pier Capital LLC now owns 99,171 shares of the construction company’s stock valued at $8,098,000 after buying an additional 24,630 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company’s stock.

Century Communities Stock Performance

Shares of CCS opened at $72.12 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.44. Century Communities, Inc. has a 52-week low of $69.82 and a 52-week high of $108.42. The company has a 50-day simple moving average of $83.41 and a 200-day simple moving average of $90.97. The company has a market capitalization of $2.26 billion, a PE ratio of 7.19 and a beta of 1.91.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, October 23rd. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.16. Century Communities had a net margin of 7.44% and a return on equity of 13.79%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities research analysts predict that Century Communities, Inc. will post 10.95 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, November 27th. Century Communities’s payout ratio is currently 10.37%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Century Communities from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $110.00 to $97.00 in a research report on Friday, December 13th. StockNews.com cut shares of Century Communities from a “hold” rating to a “sell” rating in a report on Thursday, December 5th. B. Riley reaffirmed a “buy” rating and issued a $119.00 price objective (up previously from $113.00) on shares of Century Communities in a report on Thursday, October 24th. Finally, Wedbush increased their target price on Century Communities from $90.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th.

About Century Communities

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.