Goodwin Procter Steers Lennar In $9.3B CalAtlantic Buy

Posted October 31, 2017

A number of other research analysts have also recently commented on the company. Falling ROA is nearly always a problem, but investors and analysts should bear in mind that the ROA does not account for outstanding liabilities and may indicate a higher profit level than actually derived.

Miller and his family trust, which hold a 41.4 percent voting interest in Lennar, and MP CA Homes, an affiliate of MatlinPatterson Global Opportunities Partners that holds a 25.4 percent voting interest in CalAtlantic, have agreed to support the deal, the companies said. Its price to free cash flow for trailing twelve months is 18.28. The return on equity ratio or ROE stands at 73.1 percent while most common profitability ratio return on investment (ROI) was 21.5 percent.

Parts of the South were hit hard by hurricanes Harvey and Irma, with new housing construction in the region falling 9.3 percent last month as housing starts across the country declined 4.7 percent to a one-year low of 1.127 million units. The Company ended last trading session at the price of $49.07. The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.68 billion. Shareholders of record on Friday, September 15th were given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, December 13th. ValuEngine raised shares of CalAtlantic Group from a hold rating to a buy rating in a report on Monday, October 2nd. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. CalAtlantic Group's dividend payout ratio (DPR) is presently 5.56%.

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Lennar shares were down 2.6% at $56.48 around 9 a.m. PDT. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Fifth Third Bancorp bought a new stake in shares of CalAtlantic Group during the second quarter valued at approximately $166,000.

Lennar shares were trading early this afternoon at $55.84, down 2.17, or 3.7 percent. BlueMountain Capital Management LLC lifted its position in shares of CalAtlantic Group by 412.2% during the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company's stock valued at $168,000 after buying an additional 1,772 shares during the period.