Today: First Trust Advisors LP Buys 378,722 Shares of CalAtlantic Group Inc. (CAA)

Today: First Trust Advisors LP Buys 378,722 Shares of CalAtlantic Group Inc. (CAA)

First Trust Advisors LP raised its stake in shares of CalAtlantic Group Inc. (NYSE:CAA) by 595.1% during the third quarter, Holdings Channel reports. The institutional investor owned 442,358 shares of the company’s stock after buying an additional 378,722 shares during the period. First Trust Advisors LP’s holdings in CalAtlantic Group were worth $14,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Sanders Capital LLC raised its position in shares of CalAtlantic Group by 6.1% in the third quarter. Sanders Capital LLC now owns 3,708,315 shares of the company’s stock valued at $126,415,000 after buying an additional 214,700 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of CalAtlantic Group by 2.0% in the third quarter. Mutual of America Capital Management LLC now owns 57,060 shares of the company’s stock valued at $1,908,000 after buying an additional 1,130 shares in the last quarter. Rothschild Capital Partners LLC acquired a new position in shares of CalAtlantic Group during the third quarter valued at $1,048,000. Montgomery Investment Management Inc. raised its position in shares of CalAtlantic Group by 18.6% in the third quarter. Montgomery Investment Management Inc. now owns 178,947 shares of the company’s stock valued at $5,984,000 after buying an additional 28,065 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of CalAtlantic Group by 27.4% in the third quarter. Nordea Investment Management AB now owns 64,065 shares of the company’s stock valued at $2,142,000 after buying an additional 13,787 shares in the last quarter.

CalAtlantic Group Inc. (NYSE:CAA) traded down 0.56% on Monday, reaching $33.93. 689,670 shares of the company were exchanged. The company’s 50-day moving average price is $32.24 and its 200-day moving average price is $35.29. The stock has a market capitalization of $3.94 billion, a P/E ratio of 11.73 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 issued its quarterly earnings results 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 had revenue of $1.67 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Equities research analysts anticipate that CalAtlantic Group Inc. will post $3.42 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given 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 currently 5.56%.

Several brokerages recently weighed in on CAA. MKM Partners set a $45.00 price objective on shares of CalAtlantic Group and gave the company a “buy” rating in a report on Thursday. Evercore ISI started coverage on shares of CalAtlantic Group in a research note on Monday, November 14th. They issued a “buy” rating and a $43.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CalAtlantic Group in a research note on Thursday, November 3rd. FBR & Co reaffirmed a “hold” rating and issued a $38.00 target price 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.35.

In other news, CMO Wendy L. Marlett sold 18,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 54,396 shares in the company, valued at approximately $1,877,205.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

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