Lennar To Buy CalAtlantic For Nearly $6 Billion

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CalAtlantic was formed in 2015 after the merger between two other homebuilders - Standard Pacific Corp. and Ryland Group Inc. - while Lennar finalized a purchase of luxury homebuilder WCI Communities in February 2017 for $643 million. LS Investment Advisors LLC boosted its stake in shares of CalAtlantic Group by 16.4% during the second quarter. The ex-dividend date was set for Thursday the 14th of September 2017.

Shares of CalAtlantic Group, Inc. Over the past month the firm's stock is 33.96%, 37.41% for the last quarter, 39.28% for the past six-months and 53.54% for the a year ago. The RSI takes the closing prices of a given stock over a 14-day period (typically) and calculates a ratio of the number of higher close days to the number of lower close days.

It is trading at $49.08 significantly higher than the 50 day moving average which is $37.50 and a great deal higher than the 200 day moving average of $36.31.

The P/E ratio is 13.50 and the market value is 5.41B. 18,237,590 shares of the company's stock traded hands.

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On October 31 the company was rated " by Evercore ISI Group a cut from the previous "Buy" rating. CalAtlantic Group, Inc. (NYSE:CAA) has a 20-Day average volume of 1.67 Million. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal.

Brokerages have issued ratings on the company of late. Equity analyst UBS started coverage with a rating of "Neutral". Finally, Wedbush reiterated an "ourperform" rating and set a $41.00 price target on shares of CalAtlantic Group in a research report on Monday, July 31st. Of those transactions, there were 241,743 shares of CAA bought and 43.75 million shares sold. Finally, Teachers Advisors LLC grew its position in CalAtlantic Group by 3.9% in the first quarter. Following the completion of the transaction, the chief executive officer now directly owns 594,600 shares in the company, valued at approximately $21,405,600. If you are accessing this piece on another site, it was illegally copied and republished in violation of global copyright and trademark laws. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. This is the largest homebuilder merger since the financial crisis. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.