Premier Asset Managment LLC reduced its stake in shares of CalAtlantic Group Inc. (NYSE:CAA) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 265,125 shares of the company’s stock after selling 5,450 shares during the period. CalAtlantic Group makes up approximately 2.2% of Premier Asset Managment LLC’s holdings, making the stock its 24th largest position. Premier Asset Managment LLC’s holdings in CalAtlantic Group were worth $8,865,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CAA. Bank of Montreal Can acquired a new position in CalAtlantic Group during the second quarter valued at approximately $113,000. Fifth Third Bancorp acquired a new position in CalAtlantic Group during the second quarter valued at approximately $166,000. LS Investment Advisors LLC increased 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 valued at $168,000 after buying an additional 1,772 shares during the period. Gray Financial Group GA ADV ADV acquired a new position in CalAtlantic Group during the second quarter valued at approximately $216,000. Finally, Tower Research Capital LLC TRC acquired a new position in CalAtlantic Group during the second quarter valued at approximately $220,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded down 0.82% on Monday, reaching $33.84. 1,052,343 shares of the company were exchanged. The stock’s 50-day moving average is $32.24 and its 200 day moving average is $35.29. The firm has a market capitalization of $3.93 billion, a PE ratio of 11.70 and a beta of 1.48. CalAtlantic Group Inc. has a 12-month low of $26.97 and a 12-month high of $43.16.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Wednesday, October 26th. The company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business earned $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. CalAtlantic Group had a return on equity of 11.73% and a net margin of 6.44%. The company’s quarterly revenue was up 166.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts forecast that CalAtlantic Group Inc. will post $3.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Tuesday, December 13th. CalAtlantic Group’s payout ratio is presently 5.56%.
A number of equities research analysts have issued reports on the stock. MKM Partners set a $45.00 price objective on shares of CalAtlantic Group and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI assumed coverage on shares of CalAtlantic Group in a research note on Monday, November 14th. They set a “buy” rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CalAtlantic Group in a research note on Thursday, November 3rd. FBR & Co reiterated a “hold” rating and set a $38.00 price objective on shares of CalAtlantic Group in a research note on Thursday, November 3rd. Finally, Zacks Investment Research downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. CalAtlantic Group presently has an average rating of “Buy” and an average price target of $42.35.
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 transaction of $621,180.00. Following the completion of the transaction, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.80% of the company’s stock.
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.