Economy

Lennar to become biggest home builder in the US

Lennar to become biggest home builder in the US

(NYSE:CAA). At the time of writing, the First Call consensus price target for the company is $40.25. They set a "buy" rating and a $45.00 target price on the stock. They set a "neutral" rating and a $42.00 target price on the stock. This is based on the closing price of LEN stock on October 27, 2017. TheStreet cut CalAtlantic Group from a buy rating to a hold rating in a research note on Monday, October 3rd. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & worldwide trademark & copyright legislation. The original version of this report can be viewed at https://www.truebluetribune.com/2017/10/29/calatlantic-group-inc-caa-receives-average-rating-of-hold-from-analysts.html.

Shares of CalAtlantic Group (NYSE:CAA) opened at 40.45 on Thursday.

Shares of CalAtlantic were up over 9% in early Monday premarket trading following the release of the news. With the last stock price up 35.38% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.03% over the same period. For the quarter, shares have been noted at 15.24%. The operating margin is 11.20% percent and the net profit margin stands at 7.20% percent. For the past 5 years, the company's revenue has grown 48.6%, while the company's earnings per share has grown 75.8%. CalAtlantic Group's quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that CalAtlantic Group will post $3.40 EPS for the current fiscal year. The Company also provides mortgage, title and escrow services. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, December 13th. CalAtlantic Group's dividend payout ratio (DPR) is presently 5.56%.

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Under this just announced deal, each CalAtlantic share of stock is to be exchanged at a rate of 0.885 shares of Class A Lennar common stock. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Corporate insiders own 39.50% of the company's stock.

Hedge funds have recently modified their holdings of the company.

CalAtlantic Group Inc and Lennar Corporation are expecting synergies between the two companies once the acquisition is complete. The volume of 1.81 Million shares climbed up over an trading activity of 1.02 Million shares. Arizona State Retirement System now owns 30,400 shares of the construction company's stock valued at $1,075,000 after buying an additional 400 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of CalAtlantic Group by 63.5% in the second quarter.


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