CalAtlantic Group, Inc. (CAA) Position Decreased by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY reduced its stake in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 67,651 shares of the construction company’s stock after selling 1,065 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in CalAtlantic Group were worth $2,534,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in CalAtlantic Group by 1.4% in the first quarter. LS Investment Advisors LLC now owns 5,236 shares of the construction company’s stock valued at $196,000 after buying an additional 72 shares during the period. Westpac Banking Corp acquired a new stake in CalAtlantic Group during the first quarter valued at about $191,000. Doyle Wealth Management acquired a new stake in CalAtlantic Group during the first quarter valued at about $283,000. GSA Capital Partners LLP acquired a new stake in CalAtlantic Group during the fourth quarter valued at about $258,000. Finally, Trexquant Investment LP acquired a new stake in CalAtlantic Group during the first quarter valued at about $313,000.
Shares of CalAtlantic Group, Inc. (NYSE:CAA) opened at 36.98 on Monday. The firm has a market cap of $4.24 billion, a PE ratio of 9.96 and a beta of 1.45. CalAtlantic Group, Inc. has a 52-week low of $30.18 and a 52-week high of $40.94. The stock’s 50 day moving average price is $35.85 and its 200-day moving average price is $35.72.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Thursday, April 27th. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. CalAtlantic Group had a net margin of 7.52% and a return on equity of 12.04%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that CalAtlantic Group, Inc. will post $3.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.16 annualized dividend and a dividend yield of 0.43%. CalAtlantic Group’s payout ratio is 4.36%.
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Several equities research analysts have issued reports on CAA shares. Credit Suisse Group started coverage on CalAtlantic Group in a research note on Thursday, June 22nd. They set an “underperform” rating and a $32.00 target price for the company. Zacks Investment Research raised CalAtlantic Group from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. Royal Bank Of Canada raised their target price on CalAtlantic Group from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 7th. 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 report on Tuesday, July 11th. Finally, ValuEngine upgraded CalAtlantic Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. CalAtlantic Group has a consensus rating of “Hold” and a consensus price target of $39.70.
In related news, Director David J. Matlin sold 14,510,008 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $33.22, for a total transaction of $482,022,465.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Larry T. Nicholson sold 9,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $35.94, for a total transaction of $323,460.00. Following the sale, the chief executive officer now owns 620,737 shares in the company, valued at approximately $22,309,287.78. The disclosure for this sale can be found here. Insiders have sold 14,528,012 shares of company stock worth $482,666,558 in the last ninety days. Corporate insiders own 39.50% of the company’s stock.
CalAtlantic Group Company Profile
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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