State of Wisconsin Investment Board trimmed its holdings in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 20.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,061 shares of the construction company’s stock after selling 3,660 shares during the quarter. State of Wisconsin Investment Board’s holdings in CalAtlantic Group were worth $497,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC increased its stake in CalAtlantic Group by 19.5% during the 1st quarter. FMR LLC now owns 10,412,636 shares of the construction company’s stock worth $389,953,000 after purchasing an additional 1,701,035 shares in the last quarter. BlackRock Inc. increased its stake in CalAtlantic Group by 14,538.5% during the 1st quarter. BlackRock Inc. now owns 7,035,693 shares of the construction company’s stock worth $263,486,000 after purchasing an additional 6,987,630 shares in the last quarter. Vanguard Group Inc. increased its stake in CalAtlantic Group by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,884,187 shares of the construction company’s stock worth $220,362,000 after purchasing an additional 523,054 shares in the last quarter. Sanders Capital LLC increased its stake in CalAtlantic Group by 3.8% during the 2nd quarter. Sanders Capital LLC now owns 4,167,200 shares of the construction company’s stock worth $161,972,000 after purchasing an additional 153,652 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in CalAtlantic Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,329,794 shares of the construction company’s stock worth $124,700,000 after purchasing an additional 52,570 shares in the last quarter.
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CAA has been the subject of a number of research reports. ValuEngine cut CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Wedbush reissued an “outperform” rating and set a $41.00 target price on shares of CalAtlantic Group in a research note on Tuesday, June 6th. Royal Bank Of Canada increased their target price on CalAtlantic Group from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 7th. Bank of America Corporation cut CalAtlantic Group from a “buy” rating to a “neutral” rating in a research note on Thursday, June 8th. Finally, BidaskClub cut CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.89.
CalAtlantic Group, Inc. (CAA) opened at 35.51 on Wednesday. The firm’s 50-day moving average price is $35.22 and its 200-day moving average price is $36.14. The firm has a market cap of $3.91 billion, a P/E ratio of 9.77 and a beta of 1.41. CalAtlantic Group, Inc. has a 52-week low of $30.18 and a 52-week high of $38.63.
CalAtlantic Group (NYSE:CAA) last issued its earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Equities research analysts expect that CalAtlantic Group, Inc. will post $3.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. CalAtlantic Group’s payout ratio is currently 4.46%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 9,004 shares of CalAtlantic Group stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the sale, the chief executive officer now directly owns 611,733 shares in the company, valued at $21,783,812.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 39.50% of the company’s stock.
About CalAtlantic Group
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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