Century Communities, Inc. $CCS Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its position in Century Communities by 5% in Q3, selling 100,895 shares and leaving it with 1,905,130 shares (a 6.48% stake) worth about $120.7M, while roughly 99.54% of the stock is held by hedge funds and other institutional investors.
• Q results beat expectations: Century reported EPS of $1.59 vs. $1.39 est. and revenue of $1.23B vs. $1.04B est. (revenue down 3.1% YoY), and the company raised its quarterly dividend to $0.32 (annualized $1.28, ~2.0% yield).
• Insider sale and mixed analyst views: Chairman Dale Francescon sold 100,100 shares on Feb. 12 for roughly $7.25M (a ~15.13% reduction in his position), and analysts remain split with a consensus "Hold" rating and a $74.75 price target (3 Buy, 2 Hold, 2 Sell).

Vanguard Group Inc. lessened its position in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,905,130 shares of the construction company's stock after selling 100,895 shares during the quarter. Vanguard Group Inc. owned 6.48% of Century Communities worth $120,728,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CCS. Westwood Holdings Group Inc. increased its stake 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 worth $75,569,000 after acquiring an additional 282,133 shares during the period. Balyasny Asset Management L.P. boosted its holdings in 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 purchasing an additional 254,186 shares during the last quarter. Voss Capital LP lifted its holdings in shares of Century Communities by 280.0% in the 2nd quarter. Voss Capital LP now owns 285,000 shares of the construction company's stock valued at $16,051,000 after buying an additional 210,000 shares during the period. M&G PLC purchased a new position in Century Communities during the second quarter valued at approximately $11,000,000. Finally, New South Capital Management Inc. purchased a new stake in Century Communities in the 3rd quarter worth approximately $10,028,000. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Century Communities Stock Down 1.2%

Shares of NYSE CCS opened at $64.64 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of 13.30 and a beta of 1.54. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43. Century Communities, Inc. has a 12-month low of $50.42 and a 12-month high of $76.00. The company has a 50-day moving average of $66.43 and a 200 day moving average of $63.98.

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

Century Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a $0.32 dividend. This is an increase from Century Communities's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, February 25th. Century Communities's dividend payout ratio (DPR) is presently 26.34%.

Insider Activity at Century Communities

In related news, Chairman Dale Francescon sold 100,100 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $72.44, for a total value of $7,251,244.00. Following the sale, the chairman directly owned 561,662 shares in the company, valued at approximately $40,686,795.28. The trade was a 15.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CCS. JPMorgan Chase & Co. cut their target price on shares of Century Communities from $56.00 to $49.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. B. Riley Financial restated a "buy" rating on shares of Century Communities in a research note on Thursday, January 29th. Citizens Jmp began coverage on Century Communities in a report on Wednesday, January 21st. They issued a "market outperform" rating and a $92.00 price target for the company. Zacks Research lowered Century Communities from a "hold" rating to a "strong sell" rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Communities in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.75.

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.

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