California Public Employees Retirement System decreased its stake in CalAtlantic Group Inc. (NYSE:CAA) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 130,324 shares of the company’s stock after selling 8,800 shares during the period. California Public Employees Retirement System’s holdings in CalAtlantic Group were worth $4,358,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of CAA. Bank of Montreal Can acquired a new position in CalAtlantic Group during the second quarter valued at approximately $113,000. Fifth Third Bancorp purchased a new position in shares of CalAtlantic Group during the second quarter valued at approximately $166,000. LS Investment Advisors LLC increased its position in shares of 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 last quarter. Gray Financial Group GA ADV ADV purchased a new position in shares of CalAtlantic Group during the second quarter valued at approximately $216,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of CalAtlantic Group during the second quarter valued at approximately $220,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded down 0.82% during trading on Monday, reaching $33.84. 1,052,343 shares of the company were exchanged. The company has a market capitalization 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 is $32.24 and its 200 day moving average is $35.29. CalAtlantic Group Inc. has a 1-year low of $26.97 and a 1-year high of $43.16.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The firm earned $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. The company’s revenue for the quarter was up 166.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts anticipate that CalAtlantic Group Inc. will post $3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid 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 (DPR) is presently 5.56%.
CAA has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on shares of CalAtlantic Group from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, August 1st. MKM Partners cut their price target on shares of CalAtlantic Group from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 1st. RBC Capital Markets reissued an “outperform” rating and issued a $43.00 price target (down from $48.00) on shares of CalAtlantic Group in a report on Monday, August 1st. FBR & Co downgraded shares of CalAtlantic Group from an “outperform” rating to a “marketperform” rating in a report on Monday, August 1st. Finally, Zacks Investment Research downgraded shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.35.
In other news, CMO Wendy L. Marlett sold 18,000 shares of the stock in a transaction on Thursday, September 15th. The shares were 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 directly owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.80% of the stock is currently owned by 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.