Legato Capital Management LLC Cuts Stake in Century Communities, Inc. (NYSE:CCS)

Legato Capital Management LLC cut its holdings in shares of Century Communities, Inc. (NYSE:CCS) by 55.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,372 shares of the construction company’s stock after selling 13,037 shares during the quarter. Legato Capital Management LLC’s holdings in Century Communities were worth $847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCS. Covestor Ltd lifted its stake in Century Communities by 95.0% in the first quarter. Covestor Ltd now owns 273 shares of the construction company’s stock worth $26,000 after purchasing an additional 133 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Century Communities in the 4th quarter worth approximately $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Century Communities in the first quarter valued at approximately $57,000. GAMMA Investing LLC purchased a new stake in shares of Century Communities during the fourth quarter valued at approximately $55,000. Finally, Cetera Advisors LLC purchased a new position in shares of Century Communities in the first quarter worth $202,000. 99.54% of the stock is currently owned by institutional investors.

Insider Activity at Century Communities

In other Century Communities news, CEO Robert J. Francescon sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $92.64, for a total value of $4,632,000.00. Following the completion of the sale, the chief executive officer now directly owns 477,931 shares in the company, valued at $44,275,527.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.90% of the stock is owned by company insiders.

Century Communities Trading Down 0.4 %

NYSE:CCS opened at $101.74 on Wednesday. Century Communities, Inc. has a 52 week low of $58.01 and a 52 week high of $107.90. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 11.29 and a beta of 1.85. The company’s 50 day moving average price is $90.77 and its 200-day moving average price is $87.25. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44.

Century Communities (NYSE:CCS) last issued 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. Century Communities had a net margin of 7.90% and a return on equity of 14.00%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that Century Communities, Inc. will post 10.91 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, August 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.02%. Century Communities’s payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCS. Wedbush raised their price target on shares of Century Communities from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. B. Riley upped their price target on Century Communities from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, July 25th.

About Century Communities

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.