Wedbush lowered shares of CalAtlantic Group, Inc. (NYSE:CAA) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday. Wedbush currently has $51.00 price objective on the construction company’s stock, up from their previous price objective of $41.00.
Other research analysts have also issued research reports about the company. JMP Securities lowered CalAtlantic Group from an outperform rating to a market perform rating in a report on Monday. Mizuho assumed coverage on CalAtlantic Group in a report on Thursday, October 26th. They issued a buy rating and a $45.00 price target on the stock. UBS AG assumed coverage on CalAtlantic Group in a report on Wednesday, October 25th. They issued a neutral rating and a $42.00 price target on the stock. ValuEngine upgraded CalAtlantic Group from a hold rating to a buy rating in a report on Monday, October 2nd. Finally, KeyCorp reiterated a hold rating on shares of CalAtlantic Group in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $41.70.
Shares of CalAtlantic Group (NYSE:CAA) traded up 0.79% during midday trading on Tuesday, reaching $49.73. The company had a trading volume of 3,093,605 shares. CalAtlantic Group has a 12-month low of $30.20 and a 12-month high of $50.48. The stock has a market capitalization of $5.48 billion, a PE ratio of 13.68 and a beta of 1.42. The stock’s 50 day moving average is $37.89 and its 200-day moving average is $36.40.
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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Stockholders of record on Friday, December 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, December 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.46%.
In other news, CEO Larry T. Nicholson sold 17,033 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the completion of the sale, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 39.50% of the company’s stock.
Several institutional investors have recently modified their holdings of CAA. BlackRock Inc. raised its stake in shares of CalAtlantic Group by 14,538.5% in the first quarter. BlackRock Inc. now owns 7,035,693 shares of the construction company’s stock worth $263,486,000 after purchasing an additional 6,987,630 shares during the last quarter. Balyasny Asset Management LLC raised its stake in shares of CalAtlantic Group by 515.5% in the second quarter. Balyasny Asset Management LLC now owns 1,261,045 shares of the construction company’s stock worth $44,578,000 after purchasing an additional 1,056,155 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of CalAtlantic Group in the second quarter worth approximately $30,069,000. Vanguard Group Inc. raised its stake in shares of CalAtlantic Group by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,884,187 shares of the construction company’s stock worth $220,362,000 after purchasing an additional 523,054 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of CalAtlantic Group by 19.2% in the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the construction company’s stock worth $107,812,000 after purchasing an additional 491,510 shares during the last quarter.
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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