CalAtlantic Group Inc. (CAA) Shares Sold by Westpac Banking Corp
Westpac Banking Corp lowered its position in CalAtlantic Group Inc. (NYSE:CAA) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,362 shares of the company’s stock after selling 354 shares during the period. Westpac Banking Corp’s holdings in CalAtlantic Group were worth $197,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of CalAtlantic Group during the first quarter valued at about $2,910,000. Teachers Advisors Inc. increased its stake in shares of CalAtlantic Group by 2.4% in the first quarter. Teachers Advisors Inc. now owns 119,436 shares of the company’s stock valued at $3,992,000 after buying an additional 2,818 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of CalAtlantic Group by 509.1% in the first quarter. Prudential Financial Inc. now owns 301,227 shares of the company’s stock valued at $10,067,000 after buying an additional 251,776 shares in the last quarter. BlackRock Inc. increased 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 valued at $985,000 after buying an additional 2,561 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of CalAtlantic Group by 28.8% in the first quarter. BlackRock Group LTD now owns 45,100 shares of the company’s stock valued at $1,507,000 after buying an additional 10,075 shares in the last quarter.
CalAtlantic Group Inc. (NYSE:CAA) opened at 33.01 on Monday. The company has a 50-day moving average of $34.93 and a 200-day moving average of $35.60. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 13.08 and a beta of 1.59. CalAtlantic Group Inc. has a 1-year low of $26.97 and a 1-year high of $43.24.
CalAtlantic Group (NYSE:CAA) last released its quarterly 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. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $126.24 million. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. The firm’s revenue for the quarter was up 124.4% on a year-over-year basis. Analysts predict that CalAtlantic Group Inc. will post $3.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. CalAtlantic Group’s dividend payout ratio (DPR) is presently 6.40%.
Several analysts recently issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of CalAtlantic Group in a report on Tuesday, July 12th. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Monday, July 11th. MKM Partners upgraded CalAtlantic Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $47.00 in a report on Monday, July 11th. RBC Capital Markets assumed coverage on CalAtlantic Group in a report on Tuesday, July 19th. They issued a “buy” rating and a $48.00 price target for the company. Finally, Royal Bank Of Canada assumed coverage on CalAtlantic Group in a report on Tuesday, July 19th. They issued an “outperform” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $42.69.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the business’s stock in a transaction dated 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 directly owns 54,396 shares in the company, valued at $1,877,205.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 37.80% of the stock is currently owned by company 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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