Summit Global Investments Sells 6,613 Shares of Century Communities, Inc. (NYSE:CCS)

Summit Global Investments lowered its stake in shares of Century Communities, Inc. (NYSE:CCS) by 47.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,465 shares of the construction company’s stock after selling 6,613 shares during the quarter. Summit Global Investments’ holdings in Century Communities were worth $610,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CCS. Covestor Ltd grew its holdings in Century Communities by 95.0% during the first quarter. Covestor Ltd now owns 273 shares of the construction company’s stock worth $26,000 after buying an additional 133 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Century Communities in the fourth quarter worth $36,000. GAMMA Investing LLC purchased a new position in Century Communities in the fourth quarter worth $55,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Century Communities in the first quarter worth $57,000. Finally, Cetera Advisors LLC purchased a new position in Century Communities in the first quarter worth $202,000. Institutional investors own 99.54% of the company’s stock.

Insider Activity

In other news, CEO Robert J. Francescon sold 50,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $92.64, for a total transaction of $4,632,000.00. Following the transaction, the chief executive officer now directly owns 477,931 shares in the company, valued at approximately $44,275,527.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.90% of the company’s stock.

Century Communities Stock Performance

Shares of NYSE CCS traded down $0.87 during trading on Tuesday, reaching $92.71. 136,977 shares of the stock traded hands, compared to its average volume of 309,019. Century Communities, Inc. has a 52-week low of $58.01 and a 52-week high of $107.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average of $88.93 and a 200-day moving average of $86.81. The stock has a market capitalization of $2.95 billion, a P/E ratio of 10.29 and a beta of 1.85.

Century Communities (NYSE:CCS) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.19. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Century Communities had a return on equity of 14.00% and a net margin of 7.90%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. Analysts forecast that Century Communities, Inc. will post 10.91 EPS for the current fiscal year.

Century Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, August 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.12%. Century Communities’s dividend payout ratio (DPR) is presently 11.54%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCS. B. Riley boosted their price objective on Century Communities from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Wedbush upped their price target on Century Communities from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th.

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.