CalAtlantic Group, Inc. (CAA) Position Maintained by KCM Investment Advisors LLC
KCM Investment Advisors LLC continued to hold its position in CalAtlantic Group, Inc. (NYSE:CAA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,000 shares of the construction company’s stock at the close of the 2nd quarter. KCM Investment Advisors LLC’s holdings in CalAtlantic Group were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of CAA. Bank of Montreal Can boosted its holdings in shares of CalAtlantic Group by 207.4% during the first quarter. Bank of Montreal Can now owns 11,129 shares of the construction company’s stock worth $416,000 after purchasing an additional 7,509 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of CalAtlantic Group during the first quarter worth about $484,000. Shell Asset Management Co. purchased a new stake in shares of CalAtlantic Group during the first quarter worth about $550,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of CalAtlantic Group by 1.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 26,570 shares of the construction company’s stock worth $995,000 after purchasing an additional 300 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of CalAtlantic Group by 2.9% during the first quarter. Wells Fargo & Company MN now owns 149,362 shares of the construction company’s stock worth $5,594,000 after purchasing an additional 4,253 shares during the period.
CalAtlantic Group, Inc. (NYSE:CAA) traded down 0.77% during trading on Friday, hitting $34.97. 102,278 shares of the stock traded hands. The firm has a market cap of $3.85 billion, a PE ratio of 9.62 and a beta of 1.41. CalAtlantic Group, Inc. has a 12 month low of $30.18 and a 12 month high of $38.63. The firm has a 50-day moving average price of $34.98 and a 200 day moving average price of $36.13.
CalAtlantic Group (NYSE:CAA) last issued its earnings results on Thursday, July 27th. The construction company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. CalAtlantic Group’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, equities analysts forecast that CalAtlantic Group, Inc. will post $3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a $0.04 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.45%. CalAtlantic Group’s dividend payout ratio is currently 4.46%.
A number of analysts have recently weighed in on the stock. JMP Securities upgraded shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Friday, July 21st. Wedbush restated an “ourperform” rating and issued a $41.00 price objective on shares of CalAtlantic Group in a report on Monday, July 31st. BidaskClub lowered shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. ValuEngine lowered shares of CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 23rd. Finally, KeyCorp restated a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.89.
In other news, CEO Larry T. Nicholson sold 9,004 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the sale, the chief executive officer now owns 611,733 shares of the company’s stock, valued at approximately $21,783,812.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 39.50% of the stock is owned by corporate insiders.
CalAtlantic Group 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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