Century communities chairman sells $4.61 million in stock By Investing.com

Century Communities, Inc. (NYSE:) Chairman and Co-CEO, Dale Francescon, has sold a significant portion of his stock in the company, according to the latest filings. On August 16, 2024, Francescon disposed of 50,000 shares of common stock at a price of $92.22 per share, totaling approximately $4.61 million.

This transaction has adjusted Francescon’s direct holdings to 427,936 shares following the sale. Additionally, it is noted that Francescon has an indirect ownership through DF Century LLC, which holds 1,264,762 shares of Century Communities’ common stock.

Investors often keep a close eye on insider transactions as they provide insights into executives’ confidence in the company’s prospects. The sale by Francescon represents a notable change in his investment in the company, although the reasons behind the transaction are not disclosed in the filing.

Century Communities, Inc., based in Greenwood Village, Colorado, is known for its work in the operative builders sector of the real estate and construction industry. The company’s stock is traded under the ticker symbol CCS on the New York Stock Exchange.

The disclosed transaction provides investors with up-to-date information on the actions of the company’s top executives, which can be an important factor in investment decisions. As of the date of the report, Century Communities has not made any additional comments on the transaction.

In other recent news, Century Communities demonstrated robust financial growth in the second quarter, exceeding estimates with significant increases in home deliveries, new orders, and revenue. The company reported a 17% rise in home deliveries, a 24% surge in home sales revenues, and a 66% jump in adjusted earnings per diluted share year-over-year. B.Riley, an analyst firm, attributed this success to the company’s strategic expansion into more affordable regions and the effective use of rate buy-down incentives.

B.Riley has subsequently increased its price target for Century Communities from $110 to $113, maintaining a Buy rating for the stock. This adjustment is also supported by the company’s upwardly revised guidance and successful share repurchase activities. The firm anticipates continued strong demand for new homes, especially in affordable regions.

Century Communities also reported a 20% growth in net new contracts compared to the same period last year, ending the quarter with a record community count of 266. A new stock repurchase program was approved, and Scott Dixon was promoted to CFO. Despite flat financial services revenues and declining profitability due to increased costs and lower gain on sale, the company remains optimistic about its future performance. These are some of the recent developments for Century Communities.

InvestingPro Insights

As Century Communities, Inc. (NYSE:CCS) navigates the operative builders sector, recent insider trading activity has caught the attention of shareholders and potential investors alike. Dale Francescon’s sale of shares might raise questions about the company’s outlook, but a broader look at Century Communities through InvestingPro’s lens offers a more nuanced perspective.

InvestingPro Tips indicate that Century Communities has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years. This trend aligns with the company’s recent dividend growth, which stands at 13.04% over the last twelve months as of Q2 2024. Additionally, three analysts have revised their earnings estimates upwards for the upcoming period, suggesting optimism about the company’s financial performance.

InvestingPro Data provides further context with a market capitalization of $2.88 billion and a P/E Ratio of 9.12, hinting at investor sentiment regarding the company’s valuation. The data also reveals a robust revenue growth of 23.13% for the quarter in Q2 2024, which may reflect positively on the company’s operational efficiency and market demand for its services.

For investors seeking more comprehensive analysis and additional InvestingPro Tips, there are 9 more detailed insights available on the platform. These insights can help investors make more informed decisions by considering factors such as the company’s profitability, stock price volatility, and liquidity position.

With Century Communities’ next earnings date projected for October 23, 2024, and the stock currently trading at 85.54% of its 52-week high, investors may want to keep a close watch on the company’s performance in the coming quarter.

For those interested in exploring these metrics further, InvestingPro provides a Fair Value estimate of $99.74, which could serve as a benchmark for evaluating the stock’s current price of $93.76.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.