CalAtlantic Group Inc (CAA) Holdings Trimmed by AMP Capital Investors Ltd
AMP Capital Investors Ltd decreased its holdings in CalAtlantic Group Inc (NYSE:CAA) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,555 shares of the industrial goods maker’s stock after selling 2,065 shares during the quarter. AMP Capital Investors Ltd’s holdings in CalAtlantic Group were worth $973,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Thompson Davis & CO. Inc. purchased a new position in CalAtlantic Group in the 2nd quarter worth about $138,000. Canada Pension Plan Investment Board purchased a new position in CalAtlantic Group in the 2nd quarter worth about $154,000. Riverhead Capital Management LLC raised its position in CalAtlantic Group by 71.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the industrial goods maker’s stock worth $155,000 after buying an additional 1,827 shares during the last quarter. Sciencast Management LP purchased a new position in CalAtlantic Group in the 2nd quarter worth about $222,000. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in CalAtlantic Group in the 3rd quarter worth about $253,000.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total value of $5,194,000.00. Following the completion of the transaction, the chief executive officer now directly owns 714,691 shares in the company, valued at approximately $37,121,050.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Joseph Mccall sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $55.27, for a total value of $3,592,550.00. Following the completion of the transaction, the chief financial officer now owns 178,519 shares of the company’s stock, valued at $9,866,745.13. The disclosure for this sale can be found here. Insiders sold a total of 300,239 shares of company stock valued at $15,584,165 over the last 90 days. 39.50% of the stock is currently owned by corporate insiders.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. equities analysts anticipate that CalAtlantic Group Inc will post 3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 annualized dividend and a yield of 0.29%. CalAtlantic Group’s payout ratio is 4.75%.
A number of equities analysts have weighed in on CAA shares. Credit Suisse Group raised CalAtlantic Group from an “underperform” rating to a “neutral” rating and set a $32.00 target price for the company in a research report on Tuesday, November 7th. Mizuho assumed coverage on shares of CalAtlantic Group in a research report on Thursday, October 26th. They set a “buy” rating and a $45.00 price target for the company. Barclays upped their price target on shares of CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Deutsche Bank lowered shares of CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Monday, November 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. CalAtlantic Group presently has an average rating of “Hold” and an average target price of $46.11.
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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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