Lakewood Capital Management LP Takes Position in Century Communities, Inc. $CCS

Lakewood Capital Management LP purchased a new position in Century Communities, Inc. (NYSE:CCS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 487,000 shares of the construction company’s stock, valued at approximately $34,898,000. Century Communities makes up about 1.8% of Lakewood Capital Management LP’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Century Communities by 207.6% during the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company’s stock valued at $36,000 after buying an additional 411 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Century Communities by 175.5% in the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock worth $41,000 after acquiring an additional 465 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Century Communities in the fourth quarter worth $70,000. Meeder Asset Management Inc. purchased a new stake in shares of Century Communities in the first quarter worth $81,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Century Communities Stock Performance

Shares of CCS opened at $69.55 on Tuesday. The business’s fifty day simple moving average is $67.84 and its two-hundred day simple moving average is $62.63. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. Century Communities, Inc. has a 12 month low of $47.28 and a 12 month high of $76.00. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 15.25 and a beta of 1.30.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.67. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The business had revenue of $927.23 million during the quarter, compared to analyst estimates of $857.23 million. During the same quarter last year, the company earned $1.37 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Research analysts anticipate that Century Communities, Inc. will post 4.86 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, August 26th. Century Communities’s dividend payout ratio (DPR) is presently 28.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCS. JPMorgan Chase & Co. reduced their price target on Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Zelman & Associates downgraded shares of Century Communities from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Century Communities from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Century Communities from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Century Communities has a consensus rating of “Hold” and a consensus price target of $67.00.

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.