Municipal Employees Retirement System of Michigan raised its stake in Century Communities Inc (NYSE:CCS) by 94.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,130 shares of the construction company’s stock after acquiring an additional 26,770 shares during the quarter. Municipal Employees Retirement System of Michigan owned approximately 0.18% of Century Communities worth $1,466,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC bought a new position in shares of Century Communities in the first quarter worth about $25,000. Legal & General Group Plc lifted its holdings in shares of Century Communities by 21.7% in the fourth quarter. Legal & General Group Plc now owns 4,943 shares of the construction company’s stock worth $86,000 after acquiring an additional 882 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Century Communities in the first quarter worth about $100,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Century Communities by 271,950.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,441 shares of the construction company’s stock worth $130,000 after acquiring an additional 5,439 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Century Communities in the first quarter worth about $136,000. 94.90% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on CCS. ValuEngine raised shares of Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. Wedbush upped their price objective on Century Communities from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TheStreet downgraded Century Communities from a “b-” rating to a “c” rating in a research note on Friday, May 17th. Finally, Zacks Investment Research raised Century Communities from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Century Communities presently has an average rating of “Buy” and a consensus target price of $34.30.
Century Communities (NYSE:CCS) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Century Communities had a return on equity of 11.80% and a net margin of 3.21%. The company had revenue of $608.60 million during the quarter, compared to the consensus estimate of $554.22 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Century Communities Inc will post 3.6 earnings per share for the current year.
In other news, insider John Scott Dixon sold 8,747 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $27.22, for a total value of $238,093.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Francescon sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $26.05, for a total transaction of $2,605,000.00. Following the sale, the chief executive officer now directly owns 376,280 shares of the company’s stock, valued at approximately $9,802,094. The disclosure for this sale can be found here. Corporate insiders own 14.20% of the company’s stock.
Century Communities Profile
Century Communities, Inc engages in the design, development, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in Alabama, Arizona, California, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, Utah, and Washington.
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