Basswood Capital Management L.L.C. Decreases Holdings in Century Communities, Inc. $CCS

Basswood Capital Management L.L.C. lessened its stake in shares of Century Communities, Inc. (NYSE:CCS) by 77.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,444 shares of the construction company’s stock after selling 25,905 shares during the period. Basswood Capital Management L.L.C.’s holdings in Century Communities were worth $442,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Century Communities by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 1,978,050 shares of the construction company’s stock worth $117,397,000 after buying an additional 72,920 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in 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 worth $58,832,000 after buying an additional 254,186 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Century Communities by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,744 shares of the construction company’s stock worth $38,562,000 after buying an additional 32,561 shares during the last quarter. New South Capital Management Inc. increased its holdings in Century Communities by 285.1% during the fourth quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company’s stock worth $36,169,000 after buying an additional 451,187 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Century Communities by 58.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 509,499 shares of the construction company’s stock worth $30,239,000 after buying an additional 186,938 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Century Communities Price Performance

CCS opened at $60.12 on Friday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.54 and a beta of 1.34. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $56.17 and a 200-day moving average price of $61.01. Century Communities, Inc. has a twelve month low of $47.28 and a twelve month high of $76.00.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, April 22nd. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.27. The firm had revenue of $789.67 million during the quarter, compared to the consensus estimate of $961.12 million. Century Communities had a net margin of 3.31% and a return on equity of 6.24%. The company’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Equities analysts expect that Century Communities, Inc. will post 3.84 EPS for the current year.

Century Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th were paid a $0.32 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. Century Communities’s dividend payout ratio (DPR) is presently 28.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. B. Riley Financial downgraded shares of Century Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $64.00 in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Century Communities from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings downgraded shares of Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Century Communities from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target 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.