UBS Asset Management Americas Inc. reduced its position in CalAtlantic Group Inc. (NYSE:CAA) by 16.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,268 shares of the company’s stock after selling 9,805 shares during the period. UBS Asset Management Americas Inc.’s holdings in CalAtlantic Group were worth $1,845,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CAA. Bank of Montreal Can purchased a new position in shares of CalAtlantic Group during the second quarter worth $113,000. LS Investment Advisors LLC raised 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 worth $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 worth $216,000. Wright Investors Service Inc. purchased a new position in shares of CalAtlantic Group during the second quarter worth $238,000. Finally, IBM Retirement Fund purchased a new position in shares of CalAtlantic Group during the second quarter worth $277,000.
Shares of CalAtlantic Group Inc. (NYSE:CAA) traded down 0.18% on Tuesday, reaching $33.14. 240,451 shares of the company traded hands. CalAtlantic Group Inc. has a 1-year low of $26.97 and a 1-year high of $43.24. The company has a 50-day moving average of $34.86 and a 200-day moving average of $35.67. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 13.14 and a beta of 1.59.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.58. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $126.24 million. The business’s revenue was up 124.4% compared to the same quarter last year. Analysts anticipate that CalAtlantic Group Inc. will post $3.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. CalAtlantic Group’s payout ratio is 6.40%.
A number of equities analysts recently weighed in on the stock. FBR & Co restated a “marketperform” rating on shares of CalAtlantic Group in a report on Tuesday, September 27th. Zacks Investment Research upgraded shares of 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 upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a report on Friday, July 29th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $43.00 target price (down previously from $48.00) on shares of CalAtlantic Group in a research report on Monday, August 1st. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of CalAtlantic Group in a research report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.69.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the firm’s 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 transaction, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The transaction was disclosed in a filing with the SEC, which is available at this link. 37.80% of the stock is currently owned by company 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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