CalAtlantic Group Inc (CAA) Given a $51.00 Price Target at Mizuho
Mizuho set a $51.00 target price on CalAtlantic Group Inc (NYSE:CAA) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the construction company’s stock.
A number of other brokerages have also issued reports on CAA. ValuEngine lowered CalAtlantic Group from a buy rating to a hold rating in a research note on Friday, September 1st. JMP Securities lowered CalAtlantic Group from an outperform rating to a market perform rating in a research note on Monday. UBS AG started coverage on CalAtlantic Group in a research note on Wednesday, October 25th. They issued a neutral rating and a $42.00 price target on the stock. Wedbush lowered CalAtlantic Group from an outperform rating to a neutral rating and lifted their price target for the stock from $41.00 to $51.00 in a research note on Tuesday. Finally, Barclays PLC raised CalAtlantic Group from an underweight rating to an equal weight rating and set a $35.00 price target on the stock in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $42.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Stockholders of record on Friday, December 15th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.32%. CalAtlantic Group’s payout ratio is currently 4.46%.
In other news, CEO Larry T. Nicholson sold 17,033 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the transaction, the chief executive officer now owns 594,600 shares in the company, valued at approximately $21,405,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 39.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CAA. BlackRock Inc. boosted its position in shares of CalAtlantic Group by 14,538.5% in the 1st quarter. BlackRock Inc. now owns 7,035,693 shares of the construction company’s stock valued at $263,486,000 after purchasing an additional 6,987,630 shares during the period. Balyasny Asset Management LLC boosted its position in shares of CalAtlantic Group by 515.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,261,045 shares of the construction company’s stock valued at $44,578,000 after purchasing an additional 1,056,155 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of CalAtlantic Group in the 2nd quarter valued at about $30,069,000. Vanguard Group Inc. boosted its position in shares of CalAtlantic Group by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 5,884,187 shares of the construction company’s stock valued at $220,362,000 after purchasing an additional 523,054 shares during the period. Finally, Greenhaven Associates Inc. boosted its position in shares of CalAtlantic Group by 19.2% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the construction company’s stock valued at $107,812,000 after purchasing an additional 491,510 shares during the period.
About CalAtlantic Group
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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