CalAtlantic Group, Inc. (NYSE:CAA) Position Cut by US Bancorp DE

US Bancorp DE decreased its stake in shares of CalAtlantic Group, Inc. (NYSE:CAA) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 33,395 shares of the construction company’s stock after selling 800 shares during the period. US Bancorp DE’s holdings in CalAtlantic Group were worth $1,180,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in shares of CalAtlantic Group by 19.5% in the first quarter. FMR LLC now owns 10,412,636 shares of the construction company’s stock valued at $389,953,000 after buying an additional 1,701,035 shares in the last quarter. BlackRock Inc. increased its position in CalAtlantic Group by 14,538.5% in the first quarter. BlackRock Inc. now owns 7,035,693 shares of the construction company’s stock valued at $263,486,000 after buying an additional 6,987,630 shares during the period. Vanguard Group Inc. increased its position in CalAtlantic Group by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,884,187 shares of the construction company’s stock valued at $220,362,000 after buying an additional 523,054 shares during the period. Sanders Capital LLC increased its position in CalAtlantic Group by 5.4% in the first quarter. Sanders Capital LLC now owns 4,013,548 shares of the construction company’s stock valued at $154,013,000 after buying an additional 207,429 shares during the period. Finally, Hexavest Inc. increased its position in CalAtlantic Group by 4.6% in the first quarter. Hexavest Inc. now owns 3,371,288 shares of the construction company’s stock valued at $126,255,000 after buying an additional 146,951 shares during the period. 98.44% of the stock is currently owned by institutional investors.

CalAtlantic Group, Inc. (CAA) opened at 34.26 on Friday. CalAtlantic Group, Inc. has a 52-week low of $30.18 and a 52-week high of $38.63. The stock has a 50 day moving average of $36.14 and a 200-day moving average of $36.13. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 9.43 and a beta of 1.45.

CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by $0.03. The firm had revenue of $1.62 billion for 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%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. On average, analysts forecast that CalAtlantic Group, Inc. will post $3.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.47%. The ex-dividend date is Thursday, September 14th. CalAtlantic Group’s payout ratio is 4.46%.

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Several analysts recently commented on the stock. JMP Securities upgraded shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Friday, July 21st. Wedbush reiterated an “ourperform” rating and issued a $41.00 target price on shares of CalAtlantic Group in a research note on Monday, July 31st. BidaskClub cut shares of CalAtlantic Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. ValuEngine cut shares of CalAtlantic Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Finally, Barclays PLC upgraded shares of CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 target price for the company in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.89.

In related news, Director David J. Matlin sold 14,510,008 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $33.22, for a total value of $482,022,465.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Larry T. Nicholson sold 9,004 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.61, for a total value of $320,632.44. Following the completion of the transaction, the chief executive officer now owns 611,733 shares in the company, valued at approximately $21,783,812.13. The disclosure for this sale can be found here. Insiders have sold a total of 14,528,112 shares of company stock worth $482,670,158 in the last quarter. Company insiders own 39.50% of the company’s stock.

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.

Institutional Ownership by Quarter for CalAtlantic Group (NYSE:CAA)

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