Commerce Bank Raises Position in CalAtlantic Group, Inc. (CAA)

Commerce Bank grew its position in CalAtlantic Group, Inc. (NYSE:CAA) by 2.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,002 shares of the construction company’s stock after acquiring an additional 330 shares during the period. Commerce Bank’s holdings in CalAtlantic Group were worth $495,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of CalAtlantic Group in the 2nd quarter valued at $154,000. Westpac Banking Corp bought a new position in CalAtlantic Group during the 1st quarter worth $191,000. LS Investment Advisors LLC raised its position in CalAtlantic Group by 1.4% during the 1st quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock worth $196,000 after purchasing an additional 72 shares during the last quarter. Paragon Capital Management Ltd bought a new position in CalAtlantic Group during the 2nd quarter worth $256,000. Finally, Fox Run Management L.L.C. bought a new position in CalAtlantic Group during the 2nd quarter worth $311,000.

CalAtlantic Group, Inc. (CAA) opened at 35.29 on Friday. The firm has a market cap of $3.89 billion, a P/E ratio of 9.71 and a beta of 1.41. The firm’s 50-day moving average price is $34.87 and its 200-day moving average price is $36.12. CalAtlantic Group, Inc. has a 1-year low of $30.18 and a 1-year high of $38.63.

CalAtlantic Group (NYSE:CAA) last announced 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). CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business posted $0.83 EPS. CalAtlantic Group’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that CalAtlantic Group, Inc. will post $3.46 earnings per share for the current fiscal 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 paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, September 14th. CalAtlantic Group’s dividend payout ratio is 4.46%.

Several brokerages recently issued reports on CAA. JMP Securities raised CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Friday, July 21st. Wedbush reaffirmed an “ourperform” rating and set a $41.00 target price on shares of CalAtlantic Group in a research report on Monday, July 31st. BidaskClub lowered CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Finally, Barclays PLC raised CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. CalAtlantic Group currently has an average rating of “Hold” and an average price target of $39.89.

In other news, CEO Larry T. Nicholson sold 9,004 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.61, for a total transaction of $320,632.44. Following the sale, the chief executive officer now owns 611,733 shares in the company, valued at $21,783,812.13. The transaction was disclosed in a filing with the SEC, which is available at this link. 39.50% of the stock is currently owned by company insiders.

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CalAtlantic Group Profile

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.

Institutional Ownership by Quarter for CalAtlantic Group (NYSE:CAA)

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