KLP Kapitalforvaltning AS Purchases New Stake in Century Communities, Inc. (NYSE:CCS)

KLP Kapitalforvaltning AS purchased a new position in Century Communities, Inc. (NYSE:CCS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,800 shares of the construction company’s stock, valued at approximately $425,000.

A number of other hedge funds have also recently modified their holdings of CCS. Smartleaf Asset Management LLC lifted its stake in shares of Century Communities by 336.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 738 shares of the construction company’s stock valued at $54,000 after purchasing an additional 569 shares during the period. KBC Group NV raised its holdings in Century Communities by 44.3% in the fourth quarter. KBC Group NV now owns 1,313 shares of the construction company’s stock worth $96,000 after purchasing an additional 403 shares in the last quarter. R Squared Ltd purchased a new position in Century Communities during the fourth quarter valued at $142,000. Principal Securities Inc. lifted its position in Century Communities by 27.7% during the fourth quarter. Principal Securities Inc. now owns 2,122 shares of the construction company’s stock valued at $156,000 after buying an additional 460 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Century Communities during the 4th quarter valued at $211,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Century Communities Stock Performance

NYSE:CCS opened at $65.63 on Friday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 6.31 and a beta of 1.76. Century Communities, Inc. has a 1 year low of $61.07 and a 1 year high of $108.42. The stock’s 50 day simple moving average is $71.41 and its two-hundred day simple moving average is $81.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.77.

Century Communities (NYSE:CCS) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.33. Century Communities had a return on equity of 14.17% and a net margin of 7.59%. As a group, equities analysts anticipate that Century Communities, Inc. will post 11.07 earnings per share for the current fiscal year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were issued a $0.29 dividend. This is an increase from Century Communities’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 26th. Century Communities’s payout ratio is presently 11.15%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCS. Wedbush reissued a “neutral” rating and issued a $93.00 price target (down from $96.00) on shares of Century Communities in a research report on Thursday, January 30th. Zelman & Associates upgraded Century Communities to a “hold” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised Century Communities from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $97.00 in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $103.00.

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.