Franklin Resources Inc. Purchases 51,021 Shares of Century Communities, Inc. (NYSE:CCS)

Franklin Resources Inc. raised its position in Century Communities, Inc. (NYSE:CCS) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,758 shares of the construction company’s stock after purchasing an additional 51,021 shares during the period. Franklin Resources Inc.’s holdings in Century Communities were worth $48,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its stake in Century Communities by 11.2% during the second quarter. Westwood Holdings Group Inc. now owns 883,197 shares of the construction company’s stock valued at $72,122,000 after buying an additional 89,310 shares during the period. Jennison Associates LLC raised its holdings in shares of Century Communities by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 544,407 shares of the construction company’s stock valued at $56,063,000 after acquiring an additional 49,256 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Century Communities by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 493,480 shares of the construction company’s stock worth $50,819,000 after purchasing an additional 16,397 shares in the last quarter. Basswood Capital Management L.L.C. grew its holdings in shares of Century Communities by 11.8% during the third quarter. Basswood Capital Management L.L.C. now owns 435,966 shares of the construction company’s stock worth $44,896,000 after purchasing an additional 46,104 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Century Communities by 444.7% in the third quarter. Assenagon Asset Management S.A. now owns 362,227 shares of the construction company’s stock valued at $37,302,000 after purchasing an additional 295,729 shares in the last quarter. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Century Communities Price Performance

CCS stock opened at $81.27 on Wednesday. The firm has a market cap of $2.55 billion, a P/E ratio of 8.10 and a beta of 1.87. The firm’s fifty day moving average is $90.43 and its 200 day moving average is $91.93. Century Communities, Inc. has a 52 week low of $74.76 and a 52 week high of $108.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.63 and a current ratio of 0.63.

Century Communities (NYSE:CCS) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.56 by $0.16. Century Communities had a return on equity of 13.79% and a net margin of 7.44%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The company’s quarterly revenue was up 23.7% on a year-over-year basis. Research analysts predict that Century Communities, Inc. will post 10.95 earnings per share for the current year.

Century Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 27th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.04 annualized dividend and a yield of 1.28%. Century Communities’s payout ratio is currently 10.37%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCS. StockNews.com cut shares of Century Communities from a “hold” rating to a “sell” rating in a research note on Thursday, December 5th. Wedbush upped their target price on shares of Century Communities from $90.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised Century Communities from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $97.00 in a research note on Friday, December 13th. Finally, B. Riley reiterated a “buy” rating and set a $119.00 price objective (up from $113.00) on shares of Century Communities in a research report on Thursday, October 24th.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.