CalAtlantic Group, Inc. (CAA) Shares Bought by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. grew its holdings in CalAtlantic Group, Inc. (NYSE:CAA) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 32,483 shares of the construction company’s stock after buying an additional 366 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CalAtlantic Group were worth $1,148,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAA. UBS Asset Management Americas Inc. lifted its holdings in CalAtlantic Group by 60.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 53,463 shares of the construction company’s stock worth $2,002,000 after buying an additional 20,044 shares during the period. Karp Capital Management Corp purchased a new stake in CalAtlantic Group in the 1st quarter worth approximately $665,000. Parametric Portfolio Associates LLC lifted its holdings in CalAtlantic Group by 50.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 85,287 shares of the construction company’s stock worth $3,194,000 after buying an additional 28,559 shares during the period. Envestnet Asset Management Inc. lifted its holdings in CalAtlantic Group by 5.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,211 shares of the construction company’s stock worth $569,000 after buying an additional 798 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in CalAtlantic Group by 9.5% in the 1st quarter. JPMorgan Chase & Co. now owns 269,552 shares of the construction company’s stock worth $10,095,000 after buying an additional 23,465 shares during the period.
In related news, CEO Larry T. Nicholson sold 17,033 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the completion of the sale, the chief executive officer now owns 594,600 shares in the company, valued at $21,405,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.50% of the stock is currently owned by insiders.
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CalAtlantic Group, Inc. (CAA) opened at 38.32 on Friday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 10.54 and a beta of 1.42. The stock has a 50 day moving average price of $35.26 and a 200 day moving average price of $36.08. CalAtlantic Group, Inc. has a 12 month low of $30.18 and a 12 month 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 (EPS) 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 analysts’ expectations of $1.61 billion. CalAtlantic Group had a net margin of 7.26% and a return on equity of 11.40%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Analysts anticipate that CalAtlantic Group, Inc. will post $3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. CalAtlantic Group’s payout ratio is 4.46%.
CAA has been the subject of several research analyst reports. ValuEngine upgraded CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays PLC upgraded CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded CalAtlantic Group from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. KeyCorp reiterated a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Finally, Wedbush reiterated an “ourperform” rating and issued a $41.00 price objective on shares of CalAtlantic Group in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. CalAtlantic Group has an average rating of “Hold” and an average target price of $40.00.
CalAtlantic Group Company 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.
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