Lakewood Capital Management LP Acquires Shares of 487,000 Century Communities, Inc. $CCS

Key Points

• Lakewood Capital Management acquired 487,000 shares of Century Communities, valued at approximately $34.9 million, giving it a 1.71% stake. Institutional investors collectively own 99.54% of the company.
• Century Communities reported quarterly earnings of $1.30 per share, well above the $0.63 consensus estimate, while revenue reached $927.23 million but declined 8.1% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to an annualized $1.28 dividend and a 1.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $67.00.

Lakewood Capital Management LP acquired a new stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 487,000 shares of the construction company's stock, valued at approximately $34,898,000. Century Communities comprises about 1.8% of Lakewood Capital Management LP's portfolio, making the stock its 23rd largest holding. Lakewood Capital Management LP owned about 1.71% of Century Communities as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in Century Communities during the 2nd quarter valued at approximately $367,973,000. Vanguard Group Inc. increased its stake in shares of Century Communities by 3.8% during 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 during the period. Wellington Management Group LLP raised its holdings in shares of Century Communities by 9.3% during the fourth quarter. Wellington Management Group LLP now owns 1,631,055 shares of the construction company's stock valued at $96,803,000 after acquiring an additional 139,141 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Century Communities by 32.2% during 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. Finally, Charles Schwab Investment Management Inc. lifted its stake in Century Communities by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,744 shares of the construction company's stock worth $38,562,000 after acquiring an additional 32,561 shares during the period. 99.54% of the stock is owned by institutional investors.

Century Communities Trading Down 0.3%

CCS opened at $69.55 on Tuesday. 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 52 week low of $47.28 and a 52 week high of $76.00. The stock has a market cap of $1.98 billion, a PE ratio of 15.25 and a beta of 1.30. The business has a 50 day moving average of $67.84 and a 200-day moving average of $62.63.

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

Century Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. Century Communities's dividend payout ratio is currently 28.07%.

Analysts Set New Price Targets

Several research firms recently weighed in on CCS. Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Century Communities from $49.00 to $45.00 and set an "underweight" rating for the company in a report on Wednesday, April 29th. Zelman & Associates cut shares of Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. Zacks Research raised shares of Century Communities from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Century Communities from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.

Century Communities Company 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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