Commerce Bank grew its holdings in CalAtlantic Group, Inc. (NYSE:CAA) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,002 shares of the construction company’s stock after purchasing an additional 330 shares during the quarter. Commerce Bank’s holdings in CalAtlantic Group were worth $495,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAA. Teachers Advisors LLC raised its position in CalAtlantic Group by 15.3% in the fourth quarter. Teachers Advisors LLC now owns 91,603 shares of the construction company’s stock valued at $3,115,000 after purchasing an additional 12,171 shares during the period. Bank of Montreal Can raised its position in CalAtlantic Group by 207.4% in the first quarter. Bank of Montreal Can now owns 11,129 shares of the construction company’s stock valued at $416,000 after purchasing an additional 7,509 shares during the period. Louisiana State Employees Retirement System raised its position in CalAtlantic Group by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the construction company’s stock valued at $682,000 after purchasing an additional 100 shares during the period. Janney Montgomery Scott LLC purchased a new stake in CalAtlantic Group in the first quarter valued at approximately $484,000. Finally, Shell Asset Management Co. purchased a new stake in CalAtlantic Group in the first quarter valued at approximately $550,000.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 9,004 shares of the firm’s 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 directly owns 611,733 shares in the company, valued at approximately $21,783,812.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.50% of the company’s stock.
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Shares of CalAtlantic Group, Inc. (CAA) opened at 35.22 on Friday. The stock has a 50 day moving average of $34.98 and a 200 day moving average of $36.13. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 9.69 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 announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, analysts predict that CalAtlantic Group, Inc. will post $3.47 EPS for the current fiscal year.
The business 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 annualized dividend and a yield of 0.45%. CalAtlantic Group’s dividend payout ratio (DPR) is currently 4.46%.
Several equities analysts have commented on the stock. Wedbush restated an “ourperform” rating and issued a $41.00 price target on shares of CalAtlantic Group in a research note on Monday, July 31st. BidaskClub downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Bank of America Corporation downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating in a research note on Thursday, June 8th. JMP Securities upgraded shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Friday, July 21st. Finally, ValuEngine downgraded shares of CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Two research 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. The stock currently has an average rating of “Hold” and a consensus target price of $39.89.
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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