Brandywine Global Investment Management LLC Cuts Holdings in Century Communities, Inc. $CCS

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Century Communities, Inc. by 3.7%, owning approximately $6.90 million worth of shares after selling 3,900 shares.
• Century Communities has reported a quarterly earnings per share of $1.37, surpassing expectations, along with a revenue of $1 billion despite a year-over-year decline.
• The company announced a quarterly dividend of $0.29 per share, yielding 1.8%, with the ex-dividend date set for August 27th.

Brandywine Global Investment Management LLC lessened its stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,866 shares of the construction company's stock after selling 3,900 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.34% of Century Communities worth $6,902,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Century Communities by 60.3% in the first quarter. GAMMA Investing LLC now owns 1,579 shares of the construction company's stock valued at $106,000 after buying an additional 594 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Century Communities during the 1st quarter worth approximately $423,000. Principal Financial Group Inc. raised its position in Century Communities by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 135,730 shares of the construction company's stock worth $9,107,000 after buying an additional 1,870 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Century Communities during the 1st quarter valued at approximately $982,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Century Communities by 6.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 50,098 shares of the construction company's stock valued at $3,364,000 after acquiring an additional 3,036 shares during the last quarter. 99.54% of the stock is owned by institutional investors.

Century Communities Stock Performance

Shares of CCS traded up $5.4850 during midday trading on Friday, reaching $68.1750. 172,651 shares of the stock were exchanged, compared to its average volume of 429,302. Century Communities, Inc. has a twelve month low of $50.42 and a twelve month high of $108.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 8.32 and a beta of 1.41. The business's 50-day moving average price is $59.31 and its 200 day moving average price is $61.52.

Century Communities (NYSE:CCS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.21. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $910.70 million. Century Communities had a net margin of 6.03% and a return on equity of 10.99%. The business's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 earnings per share. On average, sell-side analysts expect that Century Communities, Inc. will post 11.07 EPS for the current fiscal year.

Century Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 27th. Century Communities's dividend payout ratio is presently 14.16%.

Analysts Set New Price Targets

A number of analysts have recently commented on CCS shares. Wall Street Zen downgraded Century Communities from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. B. Riley began coverage on Century Communities in a research report on Monday, June 30th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Wedbush dropped their price objective on shares of Century Communities from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

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.