Standard Life Investments LTD acquired a new position in CalAtlantic Group Inc. (NYSE:CAA) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,506,060 shares of the company’s stock, valued at approximately $55,287,000.
A number of other institutional investors have also recently added to or reduced their stakes in CAA. AMP Capital Investors Ltd purchased a new position in CalAtlantic Group during the first quarter worth approximately $390,000. Nuveen Asset Management LLC increased its position in CalAtlantic Group by 20.0% in the first quarter. Nuveen Asset Management LLC now owns 103,254 shares of the company’s stock worth $3,451,000 after buying an additional 17,193 shares in the last quarter. Renaissance Technologies LLC purchased a new position in CalAtlantic Group during the first quarter worth approximately $17,731,000. Geode Capital Management LLC increased its position in CalAtlantic Group by 3.6% in the first quarter. Geode Capital Management LLC now owns 500,443 shares of the company’s stock worth $16,724,000 after buying an additional 17,476 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. purchased a new position in CalAtlantic Group during the first quarter worth approximately $585,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded up 1.25% on Wednesday, reaching $33.14. The company had a trading volume of 1,616,217 shares. The company’s 50-day moving average price is $35.08 and its 200-day moving average price is $35.61. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 13.14 and a beta of 1.59. CalAtlantic Group Inc. has a 52-week low of $26.97 and a 52-week high of $43.24.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.58. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $126.24 million. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The business’s revenue for the quarter was up 124.4% compared to the same quarter last year. On average, analysts predict that CalAtlantic Group Inc. will post $3.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio (DPR) is 6.40%.
A number of research firms recently commented on CAA. Credit Suisse Group AG restated a “buy” rating on shares of CalAtlantic Group in a report on Tuesday, July 12th. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Monday, July 11th. MKM Partners upgraded CalAtlantic Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $47.00 in a report on Monday, July 11th. RBC Capital Markets started coverage on CalAtlantic Group in a report on Tuesday, July 19th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Royal Bank Of Canada started coverage on CalAtlantic Group in a report on Tuesday, July 19th. They set an “outperform” rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $42.69.
In related news, CMO Wendy L. Marlett sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the transaction, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.80% of the company’s stock.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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