Bank of America Corp DE decreased its stake in Century Communities Inc (NYSE:CCS) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,414 shares of the construction company’s stock after selling 7,998 shares during the period. Bank of America Corp DE owned 0.43% of Century Communities worth $4,083,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Century Communities in the 2nd quarter valued at $151,000. Bank of Montreal Can boosted its holdings in shares of Century Communities by 8,812.7% in the 2nd quarter. Bank of Montreal Can now owns 5,615 shares of the construction company’s stock valued at $177,000 after buying an additional 5,552 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Century Communities in the 2nd quarter valued at $270,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Century Communities in the 2nd quarter valued at $325,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Century Communities in the 2nd quarter valued at $404,000. Institutional investors and hedge funds own 80.99% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Century Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. ValuEngine downgraded shares of Century Communities from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Wedbush reiterated an “outperform” rating and issued a $30.00 price target (down previously from $42.00) on shares of Century Communities in a research report on Monday. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. downgraded shares of Century Communities from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $38.50 to $31.50 in a research report on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Century Communities has a consensus rating of “Hold” and an average price target of $35.50.
CCS stock opened at $21.22 on Thursday. Century Communities Inc has a 12 month low of $20.21 and a 12 month high of $36.00. The firm has a market capitalization of $671.06 million, a P/E ratio of 7.39 and a beta of 0.99. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.97.
Century Communities (NYSE:CCS) last released its quarterly earnings results on Wednesday, September 5th. The construction company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.88 by $0.22. Century Communities had a net margin of 4.36% and a return on equity of 14.40%. On average, equities research analysts forecast that Century Communities Inc will post 4.49 earnings per share for the current fiscal year.
Century Communities Profile
Century Communities, Inc engages in the development, design, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in California, Colorado, Georgia, Nevada, North Carolina, South Carolina, Tennessee, Texas, Utah, and Washington. It is also involved in the entitlement and development of the underlying land; and the provision of mortgage services and title services to its home buyers.
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