Perpetual Ltd Takes $1.02 Million Position in CalAtlantic Group, Inc. (CAA)
Perpetual Ltd bought a new position in CalAtlantic Group, Inc. (NYSE:CAA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 28,740 shares of the construction company’s stock, valued at approximately $1,016,000.
Several other institutional investors and hedge funds have also recently modified their holdings of CAA. Thompson Davis & CO. Inc. acquired a new position in shares of CalAtlantic Group in the 2nd quarter worth approximately $138,000. Canada Pension Plan Investment Board acquired a new position in shares of CalAtlantic Group in the 2nd quarter worth approximately $154,000. Riverhead Capital Management LLC grew its position in shares of CalAtlantic Group by 71.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock worth $155,000 after acquiring an additional 1,827 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of CalAtlantic Group by 16.4% in the 2nd quarter. LS Investment Advisors LLC now owns 6,095 shares of the construction company’s stock worth $215,000 after acquiring an additional 859 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in shares of CalAtlantic Group in the 2nd quarter worth approximately $222,000.
CAA has been the subject of several research reports. Credit Suisse Group initiated coverage on CalAtlantic Group in a research report on Thursday, June 22nd. They issued an “underperform” rating and a $32.00 target price for the company. JMP Securities upgraded 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. KeyCorp reiterated a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. BidaskClub upgraded CalAtlantic Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, ValuEngine lowered CalAtlantic Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. CalAtlantic Group currently has a consensus rating of “Hold” and a consensus target price of $40.00.
Shares of CalAtlantic Group, Inc. (CAA) traded down 0.73% during mid-day trading on Thursday, hitting $38.00. The company had a trading volume of 99,121 shares. The firm’s 50 day moving average is $36.16 and its 200-day moving average is $36.13. CalAtlantic Group, Inc. has a 12-month low of $30.18 and a 12-month high of $38.63. The firm has a market cap of $4.19 billion, a PE ratio of 10.46 and a beta of 1.42.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing the 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 company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that CalAtlantic Group, Inc. will post $3.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were paid a $0.04 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.42%. CalAtlantic Group’s dividend payout ratio is currently 4.46%.
In related news, CEO Larry T. Nicholson sold 17,033 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total transaction of $613,188.00. Following the sale, the chief executive officer now directly owns 594,600 shares in the company, valued at approximately $21,405,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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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