California Public Employees Retirement System Sells 8,800 Shares of CalAtlantic Group Inc. (CAA)
California Public Employees Retirement System cut its stake in shares of CalAtlantic Group Inc. (NYSE:CAA) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,324 shares of the company’s stock after selling 8,800 shares during the period. California Public Employees Retirement System owned 0.11% of CalAtlantic Group worth $4,358,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Wright Investors Service Inc. purchased a new stake in CalAtlantic Group during the second quarter valued at about $238,000. Sanders Capital LLC increased its stake in CalAtlantic Group by 5.4% in the second quarter. Sanders Capital LLC now owns 3,493,615 shares of the company’s stock worth $130,888,000 after buying an additional 178,427 shares in the last quarter. Standard Life Investments LTD bought a new stake in CalAtlantic Group during the second quarter worth about $55,287,000. Renaissance Technologies LLC bought a new stake in CalAtlantic Group during the first quarter worth about $17,731,000. Finally, IBM Retirement Fund bought a new stake in CalAtlantic Group during the second quarter worth about $277,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded down 0.82% during midday trading on Monday, hitting $33.84. The stock had a trading volume of 1,052,343 shares. CalAtlantic Group Inc. has a 52 week low of $26.97 and a 52 week high of $43.16. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 11.70 and a beta of 1.48. The stock’s 50-day moving average price is $32.24 and its 200 day moving average price is $35.29.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Wednesday, October 26th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The firm’s revenue was up 166.0% compared to the same quarter last year. On average, equities analysts forecast that CalAtlantic Group Inc. will post $3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. CalAtlantic Group’s dividend payout ratio is presently 5.56%.
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A number of analysts recently issued reports on the company. FBR & Co downgraded CalAtlantic Group from an “outperform” rating to a “marketperform” rating in a research report on Monday, August 1st. RBC Capital Markets reaffirmed an “outperform” rating and issued a $43.00 target price (down previously from $48.00) on shares of CalAtlantic Group in a research report on Monday, August 1st. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. MKM Partners lowered their target price on CalAtlantic Group from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Finally, Royal Bank Of Canada lowered their target price on CalAtlantic Group from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $42.35.
In related news, CMO Wendy L. Marlett sold 18,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $34.51, for a total value of $621,180.00. Following the sale, the chief marketing officer now owns 54,396 shares in the company, valued at approximately $1,877,205.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 37.80% of the stock is currently owned by corporate insiders.
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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