Sanders Capital LLC increased its position in CalAtlantic Group Inc. (NYSE:CAA) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,493,615 shares of the company’s stock after buying an additional 178,427 shares during the period. CalAtlantic Group comprises about 1.1% of Sanders Capital LLC’s holdings, making the stock its 29th largest position. Sanders Capital LLC’s holdings in CalAtlantic Group were worth $130,888,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CAA. BlackRock Inc. raised its stake in shares of CalAtlantic Group by 9.5% in the first quarter. BlackRock Inc. now owns 29,495 shares of the company’s stock worth $985,000 after buying an additional 2,561 shares during the last quarter. Standard Life Investments LTD acquired a new stake in shares of CalAtlantic Group during the second quarter worth about $55,287,000. Renaissance Technologies LLC acquired a new stake in shares of CalAtlantic Group during the first quarter worth about $17,731,000. Seven Eight Capital LLC acquired a new stake in shares of CalAtlantic Group during the first quarter worth about $569,000. Finally, IBM Retirement Fund acquired a new stake in shares of CalAtlantic Group during the second quarter worth about $277,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded down 1.08% during trading on Friday, reaching $33.01. The company had a trading volume of 1,067,690 shares. The company has a market cap of $3.91 billion, a P/E ratio of 13.08 and a beta of 1.59. The firm has a 50-day moving average of $35.01 and a 200-day moving average of $35.59. CalAtlantic Group Inc. has a 12-month low of $26.97 and a 12-month high of $43.24.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.58. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The firm’s quarterly revenue was up 124.4% on a year-over-year basis. On average, equities research analysts anticipate that CalAtlantic Group Inc. will post $3.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio is currently 6.40%.
A number of analysts have recently issued reports on the company. FBR & Co reaffirmed a “marketperform” rating on shares of CalAtlantic Group in a research report on Tuesday, September 27th. Zacks Investment Research raised CalAtlantic Group from a “sell” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Wednesday, July 13th. TheStreet raised CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Friday, July 29th. RBC Capital Markets reissued an “outperform” rating and issued a $43.00 price objective (down from $48.00) on shares of CalAtlantic Group in a report on Monday, August 1st. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of CalAtlantic Group in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. CalAtlantic Group has a consensus rating of “Buy” and an average target price of $42.69.
In related 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 sale, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 37.80% of the stock is owned by insiders.
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.
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