First Eagle Investment Management LLC Purchases 22,450 Shares of Century Communities, Inc. $CCS

Key Points

• First Eagle Investment Management increased its stake in Century Communities by 10.3% in the fourth quarter, buying 22,450 more shares and bringing its total holding to 240,940 shares, worth about $14.3 million.
• Analysts have turned more cautious on CCS, with several firms cutting ratings and the consensus now sitting at Hold with an average price target of $67.00.
• Century Communities reported quarterly EPS of $0.88, beating estimates, but revenue fell 16.9% year over year; the company also announced a $0.32 quarterly dividend, or $1.28 annually, for a 2.3% yield.

First Eagle Investment Management LLC lifted its position in Century Communities, Inc. (NYSE:CCS - Free Report) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,940 shares of the construction company's stock after buying an additional 22,450 shares during the quarter. First Eagle Investment Management LLC owned about 0.83% of Century Communities worth $14,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Century Communities by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 1,978,050 shares of the construction company's stock valued at $117,397,000 after buying an additional 72,920 shares in the last quarter. Balyasny Asset Management L.P. grew its stake 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 buying an additional 254,186 shares in the last quarter. Heartland Advisors Inc. grew its stake in shares of Century Communities by 8.7% in the third quarter. Heartland Advisors Inc. now owns 456,003 shares of the construction company's stock valued at $28,897,000 after buying an additional 36,521 shares in the last quarter. Voss Capital LP grew its stake in shares of Century Communities by 28.1% in the third quarter. Voss Capital LP now owns 365,000 shares of the construction company's stock valued at $23,130,000 after buying an additional 80,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Century Communities by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 338,699 shares of the construction company's stock valued at $21,463,000 after buying an additional 71,688 shares in the last quarter. 99.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CCS. B. Riley Financial cut shares of Century Communities from a "buy" rating to a "neutral" rating and decreased their target price for the company from $75.00 to $64.00 in a research note on Thursday, April 23rd. Wall Street Zen cut shares of Century Communities from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Communities in a research report on Wednesday, January 21st. Zacks Research cut shares of Century Communities from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Finally, Citizens Jmp started coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set a "market outperform" rating and a $92.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.00.

Insider Activity

In other 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 completion of the sale, the chairman owned 561,662 shares of the company's stock, valued at approximately $40,686,795.28. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.70% of the company's stock.

Century Communities Trading Up 0.5%

CCS stock opened at $55.30 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.57 and a quick ratio of 0.57. The company has a fifty day moving average price of $58.85 and a two-hundred day moving average price of $62.08. Century Communities, Inc. has a one year low of $50.42 and a one year high of $76.00. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 12.45 and a beta of 1.37.

Century Communities (NYSE:CCS - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.27. Century Communities had a net margin of 3.31% and a return on equity of 6.24%. The firm had revenue of $789.67 million during the quarter, compared to analysts' expectations of $961.12 million. During the same period in the previous year, the business posted $1.36 earnings per share. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. Equities analysts anticipate that Century Communities, Inc. will post 3.84 EPS for the current year.

Century Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 27th. Century Communities's payout ratio is presently 28.83%.

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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