ClariVest Asset Management LLC lowered its stake in shares of CalAtlantic Group Inc. (NYSE:CAA) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 31,820 shares of the company’s stock after selling 11,200 shares during the period. ClariVest Asset Management LLC’s holdings in CalAtlantic Group were worth $1,168,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of CalAtlantic Group during the second quarter valued at $113,000. LS Investment Advisors LLC boosted its position in CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock worth $168,000 after buying an additional 1,772 shares during the last quarter. Gray Financial Group GA ADV ADV bought a new position in CalAtlantic Group during the second quarter worth approximately $216,000. IBM Retirement Fund bought a new position in CalAtlantic Group during the second quarter worth approximately $277,000. Finally, AMP Capital Investors Ltd bought a new position in CalAtlantic Group during the first quarter worth approximately $390,000.
CalAtlantic Group Inc. (NYSE:CAA) traded down 0.34% during mid-day trading on Friday, hitting $32.21. 1,502,000 shares of the company were exchanged. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 12.77 and a beta of 1.59. The firm has a 50 day moving average price of $34.41 and a 200 day moving average price of $35.61. CalAtlantic Group Inc. has a 12 month low of $26.97 and a 12 month high of $43.24.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.58. The firm earned $1.56 billion during the quarter, compared to analysts’ expectations of $126.24 million. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The company’s quarterly revenue was up 124.4% on a year-over-year basis. Analysts anticipate that CalAtlantic Group Inc. will post $3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.50%. The ex-dividend date was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio (DPR) is 6.40%.
CAA has been the topic of a number of recent analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of CalAtlantic Group in a research report on Tuesday, July 12th. RBC Capital Markets initiated coverage on shares of CalAtlantic Group in a research report on Tuesday, July 19th. They issued a “buy” rating and a $48.00 target price on the stock. MKM Partners raised shares of CalAtlantic Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $47.00 in a research report on Monday, July 11th. TheStreet raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Finally, Bank of America Corp. raised shares of CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Friday, August 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $42.69.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $34.51, for a total value of $621,180.00. Following the completion of 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 can be accessed through this link. 37.80% of the stock is owned by company insiders.
About CalAtlantic Group
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.