Allspring Global Investments Holdings LLC Lowers Holdings in Century Communities, Inc. $CCS

Key Points

• Allspring Global Investments trimmed its stake in Century Communities by 76.3% in Q4, selling 102,603 shares and retaining 31,838 shares worth about $1.88 million (roughly 0.11% of the company).
• Chairman Dale Francescon sold 100,100 shares on Feb. 12 at an average price of $72.44 for about $7.25 million, reducing his ownership by 15.13% (insiders now own 11.9% of the stock).
• Century beat quarterly estimates with EPS $1.59 vs. $1.39 and revenue of $1.23B, raised its quarterly dividend to $0.32 (annualized $1.28, ~2.2% yield), and carries a consensus analyst rating of "Hold" with a $74.75 target.

Allspring Global Investments Holdings LLC trimmed its holdings in Century Communities, Inc. (NYSE:CCS - Free Report) by 76.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,838 shares of the construction company's stock after selling 102,603 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Century Communities worth $1,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CCS. Westwood Holdings Group Inc. lifted its position in shares of Century Communities by 26.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,341,781 shares of the construction company's stock valued at $75,569,000 after acquiring an additional 282,133 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Century Communities by 32.2% in the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company's stock valued at $58,832,000 after acquiring an additional 254,186 shares in the last quarter. New South Capital Management Inc. purchased a new position in shares of Century Communities in the third quarter valued at about $10,028,000. Squarepoint Ops LLC lifted its position in shares of Century Communities by 70.6% in the third quarter. Squarepoint Ops LLC now owns 242,494 shares of the construction company's stock valued at $15,367,000 after acquiring an additional 100,313 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Century Communities by 139.1% in the second quarter. AQR Capital Management LLC now owns 171,721 shares of the construction company's stock worth $9,671,000 after purchasing an additional 99,890 shares during the last quarter. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Century Communities news, Chairman Dale Francescon sold 100,100 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the completion of the transaction, the chairman owned 561,662 shares in the company, valued at $40,686,795.28. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCS. B. Riley Financial reaffirmed a "buy" rating on shares of Century Communities in a report on Thursday, January 29th. Citigroup began coverage on Century Communities in a report on Wednesday, January 21st. They issued an "outperform" rating on the stock. Citizens Jmp began coverage on Century Communities in a report on Wednesday, January 21st. They issued a "market outperform" rating and a $92.00 target price on the stock. Zacks Research raised Century Communities from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. reduced their target price on Century Communities from $56.00 to $49.00 and set an "underweight" rating on the stock in a report on Monday, February 2nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.75.

Century Communities Trading Up 5.4%

CCS opened at $59.16 on Thursday. The firm has a market cap of $1.72 billion, a P/E ratio of 12.17 and a beta of 1.56. Century Communities, Inc. has a 12 month low of $50.42 and a 12 month high of $76.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $63.51 and a 200 day moving average of $62.46.

Century Communities (NYSE:CCS - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.39 by $0.20. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.04 billion. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.The firm's revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $3.54 earnings per share. As a group, research analysts forecast that Century Communities, Inc. will post 11.07 EPS for the current year.

Century Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were given a $0.32 dividend. This is an increase from Century Communities's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, February 25th. Century Communities's dividend payout ratio (DPR) is 26.34%.

About Century Communities

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.