ClariVest Asset Management LLC increased its stake in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 28.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,720 shares of the construction company’s stock after buying an additional 20,400 shares during the period. ClariVest Asset Management LLC owned about 0.08% of CalAtlantic Group worth $3,277,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of CalAtlantic Group by 2.9% in the first quarter. Wells Fargo & Company MN now owns 149,362 shares of the construction company’s stock valued at $5,594,000 after buying an additional 4,253 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of CalAtlantic Group by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,570 shares of the construction company’s stock valued at $995,000 after buying an additional 300 shares during the period. PM CAPITAL Ltd bought a new stake in shares of CalAtlantic Group during the first quarter valued at about $1,860,000. Greenhaven Associates Inc. boosted its stake in shares of CalAtlantic Group by 19.6% in the first quarter. Greenhaven Associates Inc. now owns 2,558,333 shares of the construction company’s stock valued at $95,810,000 after buying an additional 419,713 shares during the period. Finally, Consolidated Investment Group LLC boosted its stake in shares of CalAtlantic Group by 37.8% in the first quarter. Consolidated Investment Group LLC now owns 50,300 shares of the construction company’s stock valued at $1,884,000 after buying an additional 13,800 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.
CalAtlantic Group, Inc. (NYSE:CAA) opened at 35.72 on Wednesday. The firm’s 50-day moving average is $36.13 and its 200 day moving average is $36.15. The firm has a market capitalization of $3.94 billion, a P/E ratio of 9.83 and a beta of 1.45. CalAtlantic Group, Inc. has a 12 month low of $30.18 and a 12 month high of $38.63.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.03. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.83 earnings per share. On average, analysts expect that CalAtlantic Group, Inc. will post $3.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, September 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.46%.
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Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. ValuEngine cut CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. JMP Securities upgraded CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Friday, July 21st. Wedbush reiterated an “outperform” rating and issued a $41.00 price target on shares of CalAtlantic Group in a research note on Tuesday, June 6th. Finally, Barclays PLC upgraded CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price target for the company in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.89.
In other CalAtlantic Group news, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $33.22, for a total value of $482,022,465.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $35.61, for a total transaction of $320,632.44. Following the completion of the transaction, the chief executive officer now directly owns 611,733 shares of the company’s stock, valued at $21,783,812.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,528,112 shares of company stock valued at $482,670,158. 39.50% of the stock is owned by insiders.
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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