Neuberger Berman Group LLC Has $20.76 Million Holdings in CalAtlantic Group Inc (CAA)
Neuberger Berman Group LLC cut its stake in CalAtlantic Group Inc (NYSE:CAA) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,804 shares of the industrial goods maker’s stock after selling 60,340 shares during the period. Neuberger Berman Group LLC owned approximately 0.51% of CalAtlantic Group worth $20,762,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thompson Davis & CO. Inc. bought a new position in shares of CalAtlantic Group in the 2nd quarter valued at $138,000. Canada Pension Plan Investment Board bought a new position in shares of CalAtlantic Group in the 2nd quarter valued at $154,000. Riverhead Capital Management LLC increased its stake in shares of 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 valued at $155,000 after purchasing an additional 1,827 shares during the last quarter. Sciencast Management LP bought a new position in shares of CalAtlantic Group in the 2nd quarter valued at $222,000. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in shares of CalAtlantic Group in the 3rd quarter valued at $253,000.
In other CalAtlantic Group news, EVP John Patrick Babel sold 12,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.48, for a total value of $629,760.00. Following the sale, the executive vice president now owns 33,603 shares in the company, valued at approximately $1,763,485.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William L. Jews sold 7,482 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $51.52, for a total value of $385,472.64. Following the completion of the sale, the director now owns 41,717 shares in the company, valued at approximately $2,149,259.84. The disclosure for this sale can be found here. Insiders have sold a total of 300,239 shares of company stock worth $15,584,165 in the last 90 days. 39.50% of the stock is currently owned by corporate insiders.
CAA has been the topic of several recent analyst reports. ValuEngine lowered CalAtlantic Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. UBS Group initiated 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. Mizuho initiated coverage on CalAtlantic Group in a research note on Thursday, October 26th. They issued a “buy” rating and a $45.00 price target on the stock. JMP Securities lowered CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Finally, Wedbush lowered CalAtlantic Group from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $41.00 to $51.00 in a research note on Tuesday, October 31st. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. CalAtlantic Group presently has an average rating of “Hold” and an average target price of $46.11.
Shares of CalAtlantic Group Inc (NYSE CAA) opened at $57.10 on Friday. The firm has a market capitalization of $6,271.41, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.97 and a beta of 1.58. CalAtlantic Group Inc has a 52-week low of $32.47 and a 52-week high of $57.32. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80.
CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The company’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. analysts forecast that CalAtlantic Group Inc will post 3.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Investors 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 dividend on an annualized basis and a yield of 0.28%. CalAtlantic Group’s dividend payout ratio is currently 4.75%.
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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