Greenhaven Associates Inc. grew its position in CalAtlantic Group, Inc. (NYSE:CAA) by 4.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,198,013 shares of the construction company’s stock after acquiring an additional 148,170 shares during the period. CalAtlantic Group accounts for approximately 1.8% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 14th biggest position. Greenhaven Associates Inc. owned 2.90% of CalAtlantic Group worth $117,143,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CAA. Thompson Davis & CO. Inc. bought a new position in CalAtlantic Group during the 2nd quarter worth $138,000. Canada Pension Plan Investment Board bought a new position in CalAtlantic Group during the 2nd quarter worth $154,000. Riverhead Capital Management LLC raised its position in CalAtlantic Group by 71.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock worth $155,000 after purchasing an additional 1,827 shares during the last quarter. LS Investment Advisors LLC raised its position in CalAtlantic Group by 16.4% during the 2nd quarter. LS Investment Advisors LLC now owns 6,095 shares of the construction company’s stock worth $215,000 after purchasing an additional 859 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in CalAtlantic Group during the 2nd quarter worth about $222,000.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of CalAtlantic Group stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the transaction, the chief executive officer now owns 594,600 shares of the company’s stock, valued at approximately $21,405,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.50% of the stock is owned by company insiders.
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CalAtlantic Group, Inc. (NYSE CAA) opened at $51.97 on Friday. CalAtlantic Group, Inc. has a 1 year low of $31.19 and a 1 year high of $52.73. The firm has a market cap of $5,750.63, a PE ratio of 15.42, a P/E/G ratio of 1.84 and a beta of 1.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.51.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Wednesday, November 8th. The construction company 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 net margin of 6.85% and a return on equity of 10.35%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the business posted $0.97 EPS. CalAtlantic Group’s revenue was down 9.0% compared to the same quarter last year. equities analysts expect that CalAtlantic Group, Inc. will post 3.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. CalAtlantic Group’s dividend payout ratio is currently 4.75%.
A number of brokerages have weighed in on CAA. B. Riley reiterated a “neutral” rating on shares of CalAtlantic Group in a report on Wednesday, November 1st. UBS AG increased their price target on CalAtlantic Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday. Wedbush downgraded CalAtlantic Group from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $41.00 to $51.00 in a report on Tuesday, October 31st. Mizuho set a $51.00 price target on CalAtlantic Group and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays PLC raised their target price on CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.10.
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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