Eminence Capital Lp Lowers stake in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Eminence Capital Lp reduced its stake in CalAtlantic Group Inc by 2.42% during the most recent quarter end. The investment management company now holds a total of 5,696,560 shares of CalAtlantic Group Inc which is valued at $182,688,679 after selling 141,490 shares in CalAtlantic Group Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.CalAtlantic Group Inc makes up approximately 3.06% of Eminence Capital Lp’s portfolio.

Other Hedge Funds, Including , Mason Street Advisors boosted its stake in CAA in the latest quarter, The investment management firm added 505 additional shares and now holds a total of 34,512 shares of CalAtlantic Group Inc which is valued at $1,106,800. CalAtlantic Group Inc makes up approx 0.03% of Mason Street Advisors’s portfolio. Laurion Capital Management Lp sold out all of its stake in CAA during the most recent quarter. The investment firm sold 122,900 shares of CAA which is valued $3,851,686. 1492 Capital Management sold out all of its stake in CAA during the most recent quarter. The investment firm sold 5,539 shares of CAA which is valued $173,592. Tortoise Investment Management added CAA to its portfolio by purchasing 257 company shares during the most recent quarter which is valued at $7,998.Blackrock Advisors boosted its stake in CAA in the latest quarter, The investment management firm added 437 additional shares and now holds a total of 42,019 shares of CalAtlantic Group Inc which is valued at $1,347,549.

On the company’s financial health, CalAtlantic Group Inc reported $0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $1.17. The company had revenue of $1665.03 million for the quarter, compared to analysts expectations of $1964.24 million. The company’s revenue was up 166.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Investors should note that on Oct 27, 2016, CalAtlantic Group Inc announced a cash dividend of $0.0400. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. CalAtlantic Group Inc was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Wedbush Initiated CalAtlantic Group Inc on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $44.

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

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