Empirical Finance LLC Sells 31,317 Shares of Century Communities, Inc. $CCS

Key Points

• Empirical Finance LLC reduced its Century Communities stake by 42.7%, selling 31,317 shares and retaining 42,077 shares valued at approximately $3.0 million. Institutional investors collectively own 99.54% of the company.
• Century Communities reported quarterly EPS of $1.30, exceeding estimates of $0.63, while revenue reached $927.2 million, up from expectations but down 8.1% year over year.
• The stock opened at $62.10, below its 50-day average, and analysts maintain a consensus “Hold” rating with a $67 average price target. The company also announced a quarterly dividend of $0.32 per share, representing a 2.1% yield.

Empirical Finance LLC cut its position in Century Communities, Inc. (NYSE:CCS - Free Report) by 42.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,077 shares of the construction company's stock after selling 31,317 shares during the period. Empirical Finance LLC owned 0.15% of Century Communities worth $3,015,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Century Communities during the second quarter worth $367,973,000. California State Teachers Retirement System raised its holdings in shares of Century Communities by 6,886.6% in the second quarter. California State Teachers Retirement System now owns 2,266,677 shares of the construction company's stock valued at $162,430,000 after buying an additional 2,234,234 shares during the last quarter. Heartland Advisors Inc. acquired a new position in Century Communities during the 2nd quarter worth about $37,006,000. Lakewood Capital Management LP acquired a new position in Century Communities during the 2nd quarter worth about $34,898,000. Finally, New South Capital Management Inc. grew its holdings in Century Communities by 285.1% during the 4th quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company's stock worth $36,169,000 after acquiring an additional 451,187 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company's stock.

Century Communities Stock Down 3.7%

Shares of Century Communities stock opened at $62.10 on Wednesday. The business has a fifty day simple moving average of $67.87 and a 200 day simple moving average of $62.17. The stock has a market cap of $1.77 billion, a PE ratio of 13.62 and a beta of 1.30. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. Century Communities, Inc. has a 12 month low of $47.28 and a 12 month high of $76.00.

Century Communities (NYSE:CCS - Get Free Report) last released its earnings results on Wednesday, July 22nd. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.67. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The firm had revenue of $927.23 million for the quarter, compared to analyst estimates of $857.23 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The company's quarterly revenue was down 8.1% on a year-over-year basis. Research analysts predict that Century Communities, Inc. will post 4.86 EPS for the current year.

Century Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.28 annualized dividend and a yield of 2.1%. Century Communities's dividend payout ratio (DPR) is presently 28.07%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Century Communities from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 24th. Wall Street Zen raised shares of Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Zelman & Associates cut shares of Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.00.

Century Communities Profile

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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